Sarine kept at 'hold' with $2.98 target price by Maybank KE

Stock Name: Sarine Tech
Company Name: SARINE TECHNOLOGIES LTD

Research House: Maybank Kim Eng

Price Call: HOLD

Target Price: 2.98

SINGAPORE (Nov 11): Maybank Kim Eng is maintaining its "hold" call on Sarine Technologies, the manufacturer of systems to evaluate and grade diamonds and gemstones, with a lower target price of $2.98.

In a results review on Nov 10, analyst Yeak Chee Keong said Sarine's 3Q14 net profit came within expectations. But as Yeak expects credit issues for customers in 4Q14, he has cut FY14-16 estimated EPS by 3-8%.