Wednesday, April 12, 2006

Stock Buy Call: ElectroTech target price of 0.75 by Philip Securities

ElectroTech Investments Ltd may extend gains after Phillip Securities initiated coverage of the stock with a "buy" rating and fair value of 0.75 sgd. Phillip said ElectroTech's mechatronics division and semiconductor segment will be the growth drivers for the company. "Investors can look at ElectroTech as a conservative proxy play to the semiconductor industry," Phillip said in a client note. "With two key customers, ASML and FEI, involved in the capital equipment market for the semiconductor industry, it will stand to benefit from an industry upturn." ElectroTech yesterday closed 0.025 sgd higher at 0.57.

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