DJ MARKET TALK: OCBC Starts Li Heng At Buy, Sets S$1.16 Target DJ MARKET TALK: OCBC Starts Li Heng At Buy, Sets S$1.16 Target
0125 GMT [Dow Jones] STOCK CALL: OCBC Investment Research initiates Li Heng Chemical Fibre (E9A.SG) at Buy, sets S$1.16 target price. Broker says China-based nylon yarn product maker has strong market position with solid end market fundamentals; "we understand that demand continues to outstrip supply, driven by the increasing use of nylon fibers in the textile industry." Says company plans to capitalize on robust demand by expanding capacity using proceeds from its IPO in March. Adds target price assumes undemanding FY08 P/E ratio of 10.2X and implies substantial upside from current share price. Share +3.4% at S$0.75. (KIG)
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