Cordlife has consolidated slightly below 1.30 only to break above it today. More upside to 1.36 to 1.40 possible then 1.50. Currently at all time high so momentum may still be there to push it further. As long as 1.30 remains as new support level, bullish and continue to ride the trend with higher stop loss each time.
Stop loss at 1.285.
Maybank KE – 27 Aug 2013
Cordlife Group: Growth Story Backed by Resilient Earnings; Buy, $1.28 - TP $1.47Ø Reiterate BUY with a new Street-high TP of SGD1.47, implying a 25x FY14F. Cordlife announced its 4QFY6/13 results yesterday. Recurring net profit is largely in-line with our expectation.Ø Cordlife’s statement of its transition plan serves as a strong hint that it is ready to launch new product in its pipeline.Ø We continue to like the company as it delivers attractive results and embark upon its multi-product expansion across Asia, None of its global cord blood peers have comparable wide market exposure and strong margin such as Cordlife.
Cordlife Group: Growth Story Backed by Resilient Earnings; Buy, $1.28 - TP $1.47Ø Reiterate BUY with a new Street-high TP of SGD1.47, implying a 25x FY14F. Cordlife announced its 4QFY6/13 results yesterday. Recurring net profit is largely in-line with our expectation.Ø Cordlife’s statement of its transition plan serves as a strong hint that it is ready to launch new product in its pipeline.Ø We continue to like the company as it delivers attractive results and embark upon its multi-product expansion across Asia, None of its global cord blood peers have comparable wide market exposure and strong margin such as Cordlife.
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