SINGAPORE (Dec 3): Phillip Capital is ceasing coverage on Nam Lee Pressed Metal Industries due to a “re-allocation of internal resources”.

The research house’s last rating for Nam Lee was “buy” with a target price of 51 cents.

Commenting on the group’s financial performance for FY18, analyst Richard Leow notes in a Nov 29 report that Nam Lee’s PATMI came in line with expectations, although revenue was 5.1% lower than forecast.

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