Stock Name: Biosensors
Company Name: BIOSENSORS INT'L GROUP, LTD.
Nomura Research in a Sept 27 research report says: "Biosensors announced a special general meeting to be held on Sept 28 to seek shareholder approval to acquire a 50% stake in JWMS. The acquisition of the 50% stake from Shangdong Weigao is a win-win for both parties, in our view.
"Japan will be a key earnings driver for Biosensors, in our view, as Terumo achieves higher market share there. We have cut our estimates for FY2013 and FY2014 by 4-5% to factor in the weaker outlook in the EU and price pressures in China.
"Although we have also trimmed our target price to $1.65 (from $1.76) to reflect the changes, the shares are still trading below our target price of $1.65. We believe its current P/E valuations of 15.3x and 11.1x for FY12F and FY13F, respectively, are undemanding given the company's strong growth prospects and enhanced balance sheet. MAINTAIN BUY."
Company Name: BIOSENSORS INT'L GROUP, LTD.
| Research House: Nomura | Price Call: BUY | Target Price: 1.65 |
Nomura Research in a Sept 27 research report says: "Biosensors announced a special general meeting to be held on Sept 28 to seek shareholder approval to acquire a 50% stake in JWMS. The acquisition of the 50% stake from Shangdong Weigao is a win-win for both parties, in our view.
"Japan will be a key earnings driver for Biosensors, in our view, as Terumo achieves higher market share there. We have cut our estimates for FY2013 and FY2014 by 4-5% to factor in the weaker outlook in the EU and price pressures in China.
"Although we have also trimmed our target price to $1.65 (from $1.76) to reflect the changes, the shares are still trading below our target price of $1.65. We believe its current P/E valuations of 15.3x and 11.1x for FY12F and FY13F, respectively, are undemanding given the company's strong growth prospects and enhanced balance sheet. MAINTAIN BUY."
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