Cordlife

Cordlife: UOB Kay Hian initiate coverage on Cordlife with a BUY recommendation and TP of $0.66, implying a 20.0% upside from the current price. House like Cordlife for its market leadership in SG and HK, with potential for growth through a) the right-of-first-refusal (ROFR) to acquire assets in high-growth developing markets and b) a 10% stake in a Guangdong cord blood bank, which enjoys a monopoly in an underpenetrated market. Technically, on a 30-minute chart, we believe that the resistance is at $0.63 while support is at $0.52.