Nam Cheong cut to "hold", target cut to 39 cents by DBS Vickers

Stock Name: Nam Cheong
Company Name: NAM CHEONG LIMITED

Research House: DBS Vickers

Price Call: HOLD

Target Price: 0.39

SINGAPORE (Dec 4): DBS Vickers has downgraded Nam Cheong to "hold" from "buy" and cut its price target from 60 cents to 39 cents, based on seven times projected FY2015 earnings.

The changes reflect a de-rating of the oil and gas sector on the back of weaker oil prices.