Stock Upgraded: Ellipsiz with fair value of 0.78 sgd by DBS

DBS Equity Research said it has initiated coverage of Ellipsiz with fair value of 0.78 sgd per share. "Ellipsiz has managed to make a few acquisitions. It bought the probe card business from Kulicke & Soffa Industries Inc and raised its stakes in iNETest Resources Pte Ltd and SV Probe Pte Ltd," DBS said in a note to clients. "These acquisitions are potential growth drivers for Ellipsiz. It can now fully ride on the growing probe card market," DBS said. At 9.24 am, Ellipsiz was up 0.015 sgd or 2.46 pct at 0.625 with 427,000 shares traded.