Monday, October 09, 2006

Stock Upgraded: AusGroup price target rise to 0.71 by UOB Kay Hian!

AusGroup Ltd may gain after UOB Kay Hian Securities lifted its 12-month target price for shares of the engineering services provider for the oil and gas industry to 0.71 sgd from 0.55, saying its acquisition of Cactus Engineering & Trade Pte Ltd is expected to boost the group's earnings from the current financial year and onwards. The brokerage reiterated its "buy" recommendation for the stock. AusGroup rose 0.045 sgd or 12.5 pct to close at 0.405 on volume of 28.57 mln shares on Friday

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