OCBC Investment Research starts Biosensors (B20.SG) at Buy with $1.30 target price, says Dow Jones.

OCBC says company’s flagship BioMatrix stent remains the only commercialized biodegradable polymer drug-eluting stent available in market, “which highlights the technological expertise of Biosensors”.

Research house notes heart-stent maker also developing new technology called BioFreedom; “initial trials have showed encouraging results and a successful implementation will provide Biosensors with a further competitive edge.”

OCBC forecasts net profit CAGR of 48.1% over FY10-12. Says recent entry of China-based private equity group Hony Capital as major shareholder with 29.47% stake will help company tap burgeoning Chinese healthcare market.

Shares flat at $1.04.