Stock Buy Call: China Essence price target of 0.855 sgd by Philip Securities Research

China Essence Group Ltd may continue to edge higher after Phillip Securities Research initiated coverage of the producer of potato starch with a "buy" recommendation and a target price of 0.855 sgd, citing positive industry outlook. The brokerage believes that growth in the potato processing industry will continue in the next 10 years or more. China Essence gained 0.035 sgd to close at 0.710 yesterday.