Tuesday, April 11, 2006

Stock Upgraded: TeleChoice target price raised to 0.45 by DBS

TeleChoice International Ltd may advance again after DBS Equity Research raised its target price for the stock to 0.45 sgd from 0.34 previously on expectations of strong profits given rising demand for mobile handsets. The brokerage maintained its "buy" recommendation for the telecommunications equipment distributor. "Demand for mobile handsets should remain robust in the Asia Pacific, according to Gartner's estimates. TeleChoice should benefit from this growth in markets like Thailand, Indonesia and Malaysia. The group is also seeing strong growth from the network engineering business and has introduced new services in the telecom segment," DBS said in a note to clients. TeleChoice closed up 0.015 sgd at 0.345 yesterday.

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