Friday, June 18, 2010
*Armstrong*
Armstrong +3.5% to $0.445 in active trade, extending 16.2% gain since beginning of Jun, on ongoing interest in company's growth prospects and takeover potential. The rubber and foam parts maker for electronics, automotive sectors is expected to benefit from China's booming auto market. Interest driven further by recent disclosure that its major shareholder has been approached by 3rd party keen on company. Continue to enjoy positive newsflow from the hard disk-drive and automotive sectors and possible pleasant surprises in dividend payments. CIMB has Outperform call with $0.56 target.
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