Stock Upgraded: Global Test fair value to 0.48 by DBS Equity Research!

DBS Equity Research has raised its fair value for Taiwan-based chip testing firm Global Testing to 0.48 sgd from 0.42 after the company reported robust first-quarter earnings. On Monday, Global Testing said net profit for the March quarter rose to 5. 03 mln usd from 40,000 usd a year ago due to strong demand for its chip testing services. DBS said its revised fair value for the stock is at 1.80 times price to book value, which is still at a discount to its peers' 2.10 times. At 9.30 am, Global Testing was unchanged at 0.37 sgd with 3.85 mln shares traded.