Thursday, October 30, 2014

OSIM price target slashed 48% to $1.87 by Standard Chartered

Stock Name: OSIM Intl
Company Name: OSIM INTERNATIONAL LTD
Research House: StanChartPrice Call: HOLDTarget Price: 1.87



Standard Chartered Bank has downgraded OSIM International to "in-line" from "outperform" and cut its price target to $1.87 from $3.57, saying the company's 3Q2014 results were disappointing.

The massage chair maker's 3Q2014 earnings per share made up only 14% of StanChart's forecast.

Earnings for the September quarter fell 28% y-o-y to $16.4 million.

The bank has also cut its earnings estimates for this year and 2015 by 21% and 29% respectively, citing a cyclical slowdown in OSIM's business.

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