OSIM kept at 'buy' with $2.45 target by OSK DMG

Stock Name: OSIM Intl
Company Name: OSIM INTERNATIONAL LTD

Research House: OIR BITES

Price Call: BUY

Target Price: 2.45

SINGAPORE (FEB 4): OSIM's 4Q2014 ended December earnings of $27.4 million were above expectations, write OSK DMG analysts Juliana Cai and James Koh.

The duo has upgraded their target price to $2.45 from $2.30 previously, reflecting a 29% upside.

OSIM achieved record sales in FY2014, with revenue rising 7% year-on-year to a $691.1 million. Growth mainly came from the consolidation TWG.

OSIM surpassed analyst expectations of a 5% decline in revenue (excluding TWG) owing to the poor retail environment.