ISEC Healthcare downgraded to "hold" by Maybank Kim Eng

Stock Name: ISEC
Company Name: ISEC HEALTHCARE LTD.

Research House: Maybank Kim Eng

Price Call: HOLD

Target Price: 0.51

SINGAPORE (Feb 26): Maybank Kim Eng has downgraded ISEC Healthcare to "hold" from "buy" and trimmed its price target from 52 cents to 51 cents, based on 34 times projected FY2015 earnings.

Following its 75% run-up since its listing last October, the stock now trades at a 10% premium to the average 30.5 times earnings multiple for its peers in Singapore and the region, according to Maybank Kim Eng analysts Gregory Yap and John Cheong.

"We believe expectations are in the price," they wrote in a note today.