DBS Vickers has downgraded Straits Asia Resources (AJ1.SG) to “hold” from “buy”, citing lack of catalysts and rich valuations vs Indonesian peers. It has also cut the target price to $2.30 from $3.20 after reducing FY10-11 EPS estimates by 15%-17% to assume lower volume, higher operating costs, reported Dow Jones Newswires.
Straits Asia Resources cut to ‘hold’ by DBS Vickers
written by Editor on March 12th, 2010 |
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