Stock Hold Call: Multi-Chem Ltd with target price of 0.27 by DMG!

Multi-Chem Ltd may fall after DMG & Partners Securities gave the chemical supplier a "hold" rating in its initial coverage, citing slower earnings growth compared to peers. Target price was set at 0.27 sgd. "We note that Multi-Chem's earnings growth is slower than its Singapore-listed brethren in the similar business of providing services for PCB manufacturers. Consequently, potential upside gain is smaller," DMG said. Multi-Chem closed flat at 0.220 sgd yesterday.