CSE Global upgraded to 'add', target lifted to 65 cents by CIMB

Stock Name: CSE Global
Company Name: CSE GLOBAL LTD

Research House: CIMB

Price Call: HOLD

Target Price: 0.65

SINGAPORE (May 12): CIMB has upgraded CSE Global to "add" from "hold" and bumped up its price target to 65 cents from 62 cents.

The changes factor in a 5% to 7% increase in its FY2015 to FY2017 earnings per share estimates to take into account expected stronger revenues.

"CSE's diversified and maintenance-oriented business model is braving the oil price rout admirably," CIMB analyst Yeo Zhi Bin wrote in a note.