Biosensors

Biosensors: BoAML reduced its TP S$0.73 (from $0.90), mainly because the weak sentiment around the stock after announcement of halt of privatization process. House believes the company is still in a transitioning and highly unstable period due to: 1) Japan markets still in a weak position; 2) Change of new CEO; 3) halt of privatization process. BoAML remains neutral on the stock also because the downside is protected as the stock is currently trading at 0.8x P/B and the large net cash position would provide further opportunities in M&A.