OSIM price target trimmed to $4.05 by CIMB

Stock Name: OSIM Intl
Company Name: OSIM INTERNATIONAL LTD

Research House: CIMB

Price Call: BUY

Target Price: 4.05

SINGAPORE (Oct 27): CIMB has cut its price target on OSIM International to $4.05 from $4.29 after lowering its FY2014-FY2016 earnings per share estimates by 10% to 14% to factor in a slowdown in the company's core markets, especially Hong Kong.

CIMB analysts Kenneth Ng and Justin Chiam, who have an "add" rating on OSIM, expect the massage chair maker to report 3Q2014 earnings of $25.2 million to $25.4 million, up 10% to 11% y-o-y, compared with a 13% y-o-y increase in 2Q2014.

The results are due tomorrow.