Osim

Osim: DMG maintains Buy, raises TP to $2.04 from $1.75. Says group’s earnings likely to be driven by: 1) New product launches promoted by stars, 2) Further market penetration into China where massage chair penetration rates are still at staggering low of 1%, 3) Resilient growing sales of its nutritional supplements business which is represented under GNC and its own proprietary brand RichLife; and 4) Growing luxury tea retailing business TWG. The stock continues to see strong momentum, earlier hitting an all time high at $1.81.