Stock Upgraded: STATS upgraded to buy by UBS

STATS ChipPAC may rise after UBS Investment Research upgraded its rating on the stock to "buy" from "neutral", saying valuations turned attractive after recent declines. "We believe STATS ChipPAC is on track to meet its second-quarter revenue guidance," UBS said. It expects STATS ChipPAC's second-quarter revenue to rise 4.5 pct from the first quarter to 403.09 mln usd while operating margins are likely to hold steady with a modest positive bias. The brokerage also said it expects seasonal demand to boost revenue in the third quarter although visibility remains limited given uncertainty in end-demand. STATS ChipPAC ended yesterday's session up 0.01 sgd at 1.02.