Sino-Grandness: UOB Kay Hian re-iterate BUY recommendation on Sino Grandness with a TP of $0.60. This translates into 4.0x 2012F P/E, pegged to Singapore-listed peers’ average. SGF is trading at an undemanding valuation of 3.8x 2011 PE and 2.8x 2012F PE vs an earnings CAGR of 26.1% between 2011-14F (PEG of 0.14).
Technically, note that the stock's support and resistance could be at $0.39 and $0.43. The stock is likely to trend higher should the stock holds above the mid Bollinger band.
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