DMG has raised CNA Group’s (5GC.SG) target price to 57 cents from 51 cents on the back of earnings forecast upgrades, maintaining “buy” rating, reported Dow Jones Newswires.
The broker says control and automation systems firm’s recent FY09 results well above expectations; raises FY10 earnings estimates by 11.8% to factor in stronger contribution from associates due to higher assumed margins.
