Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-OCBC upgrades OSIM to buy

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STOCKS NEWS SINGAPORE-OCBC upgrades OSIM to buy May 8th 2012, 01:35 Mon May 7, 2012 9:35pm EDT OCBC Investment Research upgraded massage chair and health products company OSIM International Ltd to buy from hold and raised its price target to S$1.61 from S$1.35. OCBC expects further earnings traction for OSIM, underpinned by new innovative product launches with different price points and improvement in productivity per store and staff. Given the better-than-expected performance for OSIM's first quarter, OCBC raised its earnings per share forecasts for 2012 fiscal year by 7.5 percent and for 2013 by 4.9 percent. OCBC said OSIM is steadily raising its profile as a luxury specialty retailer. OSIM shares were down 2 percent at S$1.23 and have gained 6.5 percent so far this year, underperforming a 14 percent rise in the FT ST Mid Cap index. link.reuters.com/qyw97s 0918 (0118 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) *********************************************************** 08:48 STOCKS NEWS SINGAPORE-Index futures rise 0.3 pct Singapore index futures gained 0.3 percent early on Tuesday, indicating a higher start for the benchmark Straits Times Index. Asian shares and riskier assets recovered on Tuesday from the previous day's plunge as sentiment improved on hopes Spain would use public funds to bolster its struggling banks. But wariness remained over Greece. 0844 (0044 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) Link this Share this Digg this Email Reprints

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