Broadway Industrial

Broadway Industrial: CIMB maintains neutral nut lowers TP to $0.37 from $0.47. House note that HDD OEMs and semiconductor equipment makers have been lowering their expectations and orders for suppliers have been pushed back. As such, house cut FY11-13 profit forecasts for Broadway by 6-11%. Although see limited near-term catalysts, believe its share price could be supported by its low P/B and decent div yields of 5.8%.