Stock Buy Call: Memory Device with target price of 0.465 by Westcomb!

Westcomb Financial said it has raised its rating for Memory Devices Ltd to "buy" from "trading buy" in view of the Chinese-based company's prospects as dynamic random access memory (DRAM) prices rise and flash memory prices stabilize. Westcomb said it has a target price of 0.465 sgd for Memory Devices. "The share price has come off from the high of 0.505 sgd. We upgrade our call to 'buy', as we feel that this presents a good opportunity for investors to accumulate the stock," Westcomb said in a note to clients. "The outlook appears bright for Memory Devices. DRAM prices strengthened towards the end of 2005 and have remained strong. Flash memory prices took a beating in the first few months of this year but appear to be stabilizing." At 10.44 am, Memory Devices was up 0.015 sgd or 4.2 pct at 0.375, on volume of 503,000 shares.