DMG keeps Osim International (O23.SG) at Buy, raises target price to $1.52 from $1.37 after revising up FY10-FY12 earnings estimates by 20%-24% to take into account higher margins arising from better product mix, economies of scale, improved profitability in GNC Australia business. 

Expects Street to raise earnings forecasts in light of stronger-than-expected 3Q earnings; massage chair maker reports 3Q PATMI of $13.0 million, +85.5% on-year, +7.6% on-quarter. House says 9-month FY10 PATMI at $33.1 million, accounts for 81.5% of its full year forecast. 

 

Shares +2.9% at $1.08 vs STI down 0.4%.