Armstrong

CIMB raisestarget price to $0.555 from $0.48 pegged at 9x FY11 P/E to account for higher sales. Maker of precision components for automotive, electronic sectors started 2010 on firm footing with all business segments reporting rebound in 1Q10; recent discussions with mgmt suggest that the positive momentum will continue on the back of healthy order indications from major customers as well as the rollout of new projects.