Stock Upgraded: Elec & Eltek by Philip Securities!

Phillip Securities has raised its target price for Hong Kong-based printed circuit board maker Elec & Eltek International Co Ltd to 2.97 usd from 2.94 previously given its good margins amid strong consumer demand for electronic products such as LCD TVs. In a client note, the brokerage firm said it is keeping its "hold" rating on the company. Phillip Securities also raised its year to June 2007 revenue forecast to 539.8 mln usd from 522.7 mln previously, and its net profit estimate to 60.4 mln usd from 52.8 mln.