Stock Outperform Call: FerroChina with target price of 0.78 by Daiwa!

FerroChina Ltd may edge higher after Daiwa Institute of Research initiated coverage of the firm with an "outperform" rating and a six-month target price of 0.78 sgd. "We believe FerroChina will benefit from continued Chinese demand for galvanized steel with its expansion plans. FerroChina is upgrading its first galvanization line currently, and is constructing its Phase III facility," Daiwa said in a note. FerroChina slipped 0.010 sgd to settle at 0.590 yesterday.