UMS upgraded to 'add', target raised to 63 cents by CIMB

Stock Name: UMS
Company Name: UMS HOLDINGS LIMITED

Research House: CIMB

Price Call: BUY

Target Price: 0.63

SINGAPORE (May 12): CIMB has upgraded UMS Holdings to "add" from "hold" and raised its price target to 63 cents from 55 cents, citing improving growth prospects.

Shares of UMS, which makes semiconductor components, are likely to re-rate as the business slowdown that started in June last year comes to an end, according to CIMB analyst William Tng.