Reuters: Hot Stocks: STOCKS NEWS ASEAN-CIMB upgrades CSE Global to outperform

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STOCKS NEWS ASEAN-CIMB upgrades CSE Global to outperform Mar 26th 2012, 01:16 Sun Mar 25, 2012 9:16pm EDT CIMB Research raised its rating on Singapore's CSE Global , a systems integrator for the global oil industry, to outperform from neutral and kept its target price, citing its current share price as an attractive level to buy the stock. "We deem that the current trading price provides a good entry point to this quality company," CIMB said in a report. It said CSE Global is trading at 7 times its 12-month forward price-to-earnings, compared to a 5-year mean of 11 times. The broker expects CSE to post first-quarter net profit of S$14 million, up 11 percent from a year ago. Stronger-than-expected results and order wins could lead to a re-rating of CSE Global, it said. By 0109 GMT, CSE Global shares were up 1.9 percent at S$0.80, and have gained 6.7 percent since the start of the year. 0911 (0111 GMT) (Reporting by Charmian Kok in Singapore) Reuters messaging rm://charmian.kok.thomsonreuters.com@reuters.net ************************************************************ 09:03 STOCKS NEWS ASEAN-Singapore's index futures higher Singapore's index futures rose 0.23 percent, indicating a stronger start for the benchmark Straits Times Index. The Nikkei share average was up 0.36 percent on Monday, while the MSCI Asia Pacific ex-Japan gained 0.27 percent, finding some support after losing ground last week on fears of the impact of an economic slowdown in China. 0845 (0045 GMT) (Reporting by Charmian Kok in Singapore) Reuters messaging rm://charmian.kok.thomsonreuters.com@reuters.net Link this Share this Digg this Email Reprints

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