Mencast: UOB Kay Hian initiates coverage with Buy Call and $0.59 TP. Like Mencast for its balanced strategy of diversifying into new engines for growth while strengthening its core competencies through synergistic acquisitions. House estimate a two-year EPS CAGR of 19.3% (2010-12F), driven by new rev streams, capacity expansion and valueaccretive acquisitions….
Technically price action appears to be on a long term uptrend, consolidating on weak trading vol. Support and resistance are at $0.42 and $0.47 respectively.
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