Stock Buy Call: Mediaring far value of 0.71 sgd by CLSA

MediaRing extends gains on positive outlook Internet telephony service provider MediaRing Ltd extended recent gains on expectations of strong earnings going forward as web-based telephony becomes increasingly popular to consumers worldwide, dealers said. "The earnings outlook remains rosy," CLSA said in a note to clients last week. "MediaRing is the world's largest listed profitable voice over Internet protocol pure play, with 80 pct revenue exposure to high growth markets in the Middle East," it added. CLSA rates the stock a "buy" with a fair value of 0.71 sgd. MediaRing was up 0.03 sgd or 6.67 pct at 0.48 with 31.70 mln shares traded.