Biosensors: Nomura reiterate Buy and increase TP to $1.90 from $1.70. House tweak forecasts to account for the conversion of the US$120m notes by Weigao and ASP pressure in Japan, and raise TP to incorporate the potential of the group eventually entering the US DES market.
With the restructuring of JWMS and rev contribution from Jap in FY12F, BIG is well positioned for the nx stage of its growth. Believe it may expand into its business-related products via acquisitions.
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