Stock Upgraded: Tee International Ltd upgraded to buy by OCBC Securities
OCBC Securities has upgraded its rating on construction firm Tee International Ltd to "buy" from "hold", citing improved business prospects for the company. "We believe Tee may yet benefit through a greater market share in the rebuilding segment and margin improvement, as the two integrated resort projects (in Singapore) draw mechanical and electrical engineering contractors from existing pool," OCBC said in a client note. The brokerage estimates fair value for the stock at 0.17 sgd. It expects Tee International's net profit to grow to 1 mln sgd this year from 800,000 in 2005. For 2007, projected net income was raised to 1.5 mln sgd from 1 mln previously, on account of higher margins. Tee International last traded at 0.125 sgd yesterday.
posted by Bryan Chin @ 4:46:00 PM
2 comments
2 Comments:
Remembered that iOCBC called people to buy it since 2 years ago, but it seldom to budge. Always take iocbc's suggestion with a pinch of salt! It does not have house traders to support its recommendation like DBSVickas.
Hi, but actually among all the brokerage houses, I feel that iocbc technical advise is pretty good.
Try
http://qian2yu.com/targetframe.jsp?url=/publication/web/columnist5/index.html
and see whether some of their advice come true.
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