Midas

Midas: 3Q10 NP +44% YoY to S$13.7m, revenue +35% YoY to S$49.8m, with contribution from new extrusion capacities. CS maintains Outperform, TP 1.20 from 1.10, well-leveraged into the structural growth theme for China’s railway sector and further contract wins wld support share price action. Daiwa reiterate Buy, TP 1.25, results inline with expectation. JPM initiate Overweight, TP 1.10, on the fast track for growth.