Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-DMG upgrades Epicentre to 'buy'

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STOCKS NEWS SINGAPORE-DMG upgrades Epicentre to 'buy' Sep 19th 2012, 01:08 Tue Sep 18, 2012 9:08pm EDT DMG & Partners upgraded Epicentre Holdings Ltd, which sells Apple products, to 'buy' from 'neutral', and raised its target price to S$0.41 from S$0.31, on expectations of an earnings improvement in the next quarter. By 0101 GMT, Epicentre shares were untraded at S$0.355, and have fallen 21 percent so far this year, compared to the FTSE International ST Catalist Index's 10 percent rise. Despite competition from Apple's online store, premium retailers like Epicentre will continue to see sales grow due to better deals such as extended warranties and discounts on associated hardware. "Earnings are expected to be driven by new Apple branded products and ramp up in sales of new stores," DMG said in a report. The brokerage expects Epicentre's net margins to improve to 1.6 percent for the year ending June 2013 and 1.9 percent in 2014, compared to 0.3 percent in 2012.

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