Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-UOB starts Cordlife at buy

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STOCKS NEWS SINGAPORE-UOB starts Cordlife at buy Apr 25th 2012, 01:32 Tue Apr 24, 2012 9:32pm EDT UOB Kay Hian has initiated coverage of Cordlife Group Ltd , a cord blood and tissue banking service provider, rating the company a buy with a target price of S$0.66 and citing its growth potential in Asia. Shares of Cordlife were up 0.9 percent at S$0.565, but have fallen 17 percent since its market debut in March. Its shares are still above its IPO price of S$0.495. Cordlife has the right-of-first-refusal to acquire business assets in high-growth developing markets such as India, the Philippines and Indonesia, which have one of the lowest penetration rates for cord blood banking services in Asia, UOB said. It added that the company also has a 10 percent indirect stake in Guangzhou Tianhe Nuoya Biology Engineering, which holds the sole licence to operate a blood bank in Guangdong, China. An increase in healthcare spending in China and an expanding middle class will help to drive Cordlife's growth in the country, UOB said. The broker expects Cordlife's earnings per share to grow at an average 13.6 percent a year over the next two years. For related story click 0920 (0120 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 09:08 STOCKS NEWS SINGAPORE-Index futures up 0.7 pct Singapore index futures was 0.7 percent higher, signalling a positive start for the benchmark Straits Times Index. Asian shares rose on Wednesday as firm U.S. corporate earnings, signs of an improving U.S. housing market, and healthy demand for euro zone sovereign debt stoked risk appetite, while focus shifted to the Federal Reserve's meeting. 0846 (0046 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) (Editing by Richard Pullin) Link this Share this Digg this Email Reprints

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