not vested
SA SA INT'L (00178.HK) upgraded to Buy, target reduced to $7.64 - UBS
2014-04-17
The stock price of SA SA INT'L (00178.HK) -0.370 (6.491%) Short selling $31.17M; Ratio 24.643% has plunged 30% over the past three months, which UBS believed the negatives have been factored in.
The broker lowered its earnings per share forecast on SA SA INT'L by 9%/8%/8% for 2014-16 to reflect lower same stores sales growth and profit margin.
Meanwhile, the target price was reduced from $8.25 to $7.64. Yet, SA SA INT'L is trading at 20x/17x FY14E/15E PE, which will give support to the stock price.
As such, UBS upgraded SA SA INT'L from Neutral to Buy.
Source: AAStocks Financial News