Stock Outperform Call: ECS Holding target price of 0.48 by CIMB-GK

CIMB-GK Research has raised its rating for ECS Holdings Ltd to "outperform" from "trading buy", citing the company's positive earnings momentum. The brokerage also increased its target price for the distributor of information technology products to 0.48 sgd from 0.38. "ECS has continued to outperform industry growth, supporting our view that leading regional players will benefit from the consolidation of the IT distribution industry. We expect ECS to gain further traction in countries such as Indonesia and the Philippines this year," CIMB-GK said in a note. ECS finished Thursday's trading down 0.005 sgd at 0.355.