Osim has cleared the critical 2.00 resistance level which it has tested more than a month ago. Has been consolidating from 1.92 to 2.00 level since the breakout in end of March 2013. More upside is possible in the short term to 2.10 then 2.20. Note that the high in Oct 2006 was 2.16 level, would be keen to see it touch the previous high again. As long as 2.00 remains as new support level, we are bullish.
Stop loss at 1.985.
By Maybank KE on 30 April 2013
OSIM International: Touched By An uAngel; Reiterate Buy, TP $2.60
OSIM SP | Mkt Cap USD1.2b | ADTV USD2.1m
Ø OSIM is announcing its 1Q13 results on 7 May after market close. We are expecting net profit of around SGD25.5m for the quarter (up 15% yoy), on double-digit sales growth.
Ø The uAngel has proven to be very popular according to our channel checks, and will likely boost YoY sales growth. However, the full effect will only be apparent from the 2nd quarter onward.
Ø Our TP of SGD2.60 remains a Street high, reflecting our bullishness for 2013. OSIM is our top pick within the Singapore consumer sector and we reiterate BUY.
OSIM SP | Mkt Cap USD1.2b | ADTV USD2.1m
Ø OSIM is announcing its 1Q13 results on 7 May after market close. We are expecting net profit of around SGD25.5m for the quarter (up 15% yoy), on double-digit sales growth.
Ø The uAngel has proven to be very popular according to our channel checks, and will likely boost YoY sales growth. However, the full effect will only be apparent from the 2nd quarter onward.
Ø Our TP of SGD2.60 remains a Street high, reflecting our bullishness for 2013. OSIM is our top pick within the Singapore consumer sector and we reiterate BUY.
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