Biosensors: OCBC Sec initiates Buy with $1.30 target price, citing its flagship BioMatrix stent remains the only commercialized biodegradable polymer drug-eluting stent available in market, which highlights group’s technological expertise. Notes heart-stent maker also developing new technology called BioFreedom, Initial trials prove encouraging & successful implementation will provide Biosensors with a further competitive edge. Forecasts net profit CAGR of 48.1% over FY10-12.
Believes recent entry of China-based private equity group Hony Capital as major shareholder with 29.47% stake will help company tap burgeoning Chinese healthcare market.
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