Viz Branz: Too fast, too furious says OCBC, with share price of grp rising more than 14% to as high as $0.535 before correcting down to close at $0.430 at the end of the day. A check with mgt revealed no change to its strategy or any significant developments in its geographical growth markets of China and Indochina.
As such, price action could be purely speculative in nature (sharp share price gains on high trading vol). With renewed interest in Viz Branz following the strong rally in its share price, house advocate investors utilize this opportunity to realize some profits and re-enter at lower levels. Reiterate HOLD rating at an unchanged fair value estimate of $0.37, although continue to like counter for its promising 2H12 outlook and growth potential.
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