Sarine Technologies upgraded to "hold", target raised to $3.11 by CIMB

Stock Name: Sarine Tech
Company Name: SARINE TECHNOLOGIES LTD

Research House: CIMB

Price Call: HOLD

Target Price: 3.11

SINGAPORE (Nov 11): CIMB has upgraded Sarine Technologies to "hold" from "reduce" and raised its price target from $2.59 to $3.11, based on 18 projected FY2016 earnings.

Sarine develops technologies for processing diamonds and gems.

"Sarine continues to enjoy a dominant and leading position in its industry, with no strong competitors at its heels," CIMB analyst William Tng said in a note.