Stock Name: MIDAS
Company Name: MIDAS HLDGS LIMITED
DBS Vickers Securities in a July 29 research report says: "Midas announced that its 32.5%-owned associate, Nanjing Puzhen Railway Transport Co, Ltd has won 2 projects totalling RMB3.13 billion. The firm orders from Nanjing are not surprising, as the city is gearing up to host the youth Olympics in 2014.
"Midas' share price has seen a substantial drop in recent days following the unfortunate accident in China, but we think the accident should not have a material impact on the investment and development plan of high speed railway in China (other than a renewed focus on safety).
"Furthermore, Midas is also well positioned to win orders from metro projects in China as well as overseas projects. Target price of 56 cents. MAINTAIN BUY."
Company Name: MIDAS HLDGS LIMITED
| Research House: DBS Vickers | Price Call: BUY | Target Price: 0.56 |
DBS Vickers Securities in a July 29 research report says: "Midas announced that its 32.5%-owned associate, Nanjing Puzhen Railway Transport Co, Ltd has won 2 projects totalling RMB3.13 billion. The firm orders from Nanjing are not surprising, as the city is gearing up to host the youth Olympics in 2014.
"Midas' share price has seen a substantial drop in recent days following the unfortunate accident in China, but we think the accident should not have a material impact on the investment and development plan of high speed railway in China (other than a renewed focus on safety).
"Furthermore, Midas is also well positioned to win orders from metro projects in China as well as overseas projects. Target price of 56 cents. MAINTAIN BUY."
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