Tuesday, January 13, 2015

OSIM price target cut 6.3% to $2.55 by Maybank Kim Eng

Stock Name: OSIM Intl
Company Name: OSIM INTERNATIONAL LTD
Research House: Maybank Kim EngPrice Call: BUYTarget Price: 2.55



SINGAPORE (Jan 13): Maybank Kim Eng has cut its price target for OSIM International from $2.72 to $2.55, pegged at 19 times forward earnings, after lowering its FY2014 and FY2015 earnings estimates by 6% to factor in higher operating expenditure as the company opens two more central kitchens in Beijing and Shenzhen.

"1H2015 should still be laden with expansion costs as TWG plans to enter Beijing, Guangdong and Hong Kong," Maybank Kim Eng analyst Gregory Yap said in a note, referring to the massage chair maker's tea label.

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