Biosensors

Biosensors: Counter seems to be supported at the $0.855 level, before bouncing up towards the high of $0.95 yesterday. Coincidentally, this was the price range that management performed several share buybacks over the Aug-Oct period. On its disappointing results released 12 Nov, it prompted a fresh round of target price downgrades by analysts, as management revised downward its previous guidance of 15% top line growth, and now anticipates overall revenue growth to be “moderately positive” over FY13. Market watchers note that Biosensors continues to face challenges in China amid product ASP cuts and an on-going anti-corruption campaign, and intense competitive pressures in Japan.