Elec&Eltek International: CIMB maintains Outperform with TP of US$4.04 based on 8x CY11P/E. Expects solid YoY growth attributed to its communications related sector and higher ASPs, with greater contributions from its high density interconnect boards, as grp increases capacity….
Adds that EBITDA margins likely to improve oh higher sales and production yields. However warns of slowdown in 4Q10, but have already imputed slowdown in forecast figures. Potential catalysts would include a surprise in strong quarterly earnings and any surprise dividends.
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