Singapore Stock Market News

OSIM International - Addressing funding and growth

StockFanatic
Publish date: Wed, 17 Sep 2014, 11:40 AM
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We hosted OSIM on a non-deal roadshow to the UK. Main issues discussed were the operational climate in China, its recent CB issuance and TWG Tea. We cut our FY14-15 EPS forecasts by 7% to account for the CB dilution. This lowers our target price (blended DCF-P/E-P/BV). While OSIM's most recent earnings growth guidance of 10-20% is lower than the 15% previously, its valuation of 15x CY15 P/E makes it still attractive at such growth rates.
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