Innovalues price target raised 13.6% to $1.00 by Maybank Kim Eng

Stock Name: Innovalues
Company Name: INNOVALUES LIMITED

Research House: Maybank Kim Eng

Price Call: BUY

Target Price: 1.00

SINGAPORE (May 14): Maybank Kim Eng has raised its price target for Innovalues to $1.00 from 88 cents after increasing its FY2015 to FY2017 earnings per share estimates by 13% to 14%.

The revised target is based on 14 times projected FY2015 earnings. Maybank Kim Eng has a "buy" rating on the stock.

The precision engineering firm is likely to enjoy better profit margins in the quarters ahead as it continues to increase operational efficiency, according to Maybank Kim Eng analyst John Cheong.