Biosensors kept at 'reduce' with 53 cents price target by CIMB

Stock Name: Biosensors
Company Name: BIOSENSORS INT'L GROUP, LTD.

Research House: CIMB

Price Call: SELL

Target Price: 0.53

SINGAPORE (Dec 2): CIMB Research is maintaining its "reduce" call on stent-maker Biosensors with an unchanged target price of 53 cents.

In a report dated Nov 27 by analyst Gary Ng, CIMB says there are potentially more blind spots for Biosensors, especially when restructuring efforts and sales strategy are unclear at the moment. Increased competition and price erosion remain the headwinds while royalty income continued to deteriorate.