Global Testing price target raised 17.6% to 20 cents by RHB

Stock Name: Global Testing
Company Name: GLOBAL TESTING CORPORATION LTD

Research House: RHB

Price Call: BUY

Target Price: 0.20

SINGAPORE (May 4): RHB Securities Singapore has raised its price target for Global Testing Corp from 17 cents to 20 cents, based on a discounted cash-flow valuation.

"Due to capital expenditure lowering significantly going forward, accompanied by higher profits, we switch to a discounted cash-flow valuation to better value the rich free cash flow that Global Testing will be able to generate," RHB analysts Jarick Seet and Terence Wong wrote in a note today.

They have a "buy" call on the stock.