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Sarine to score in 3Q despite less shine in polished diamonds

Michelle Zhu
Michelle Zhu10/12/2016 12:41 PM GMT+08  • 2 min read
Sarine to score in 3Q despite less shine in polished diamonds
SINGAPORE (Oct 12): Maybank Kim Eng is maintaining Sarine Technologies at “buy” with a lower target price of $2.01 from $2.07 previously, after moderating its expectations of growth in the polished diamond segment.
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SINGAPORE (Oct 12): Maybank Kim Eng is maintaining Sarine Technologies at “buy” with a lower target price of $2.01 from $2.07 previously, after moderating its expectations of growth in the polished diamond segment.

“After analysing the growth pace of its polished diamond segments over the past few quarters, we believe that our previous assumptions were overly optimistic,” explains analyst Yeak Chee Keong of the stock’s reduced target price in a Wednesday note.

This by all means does not alter Maybank’s view for an “eventual exponential growth”, Yeak emphasises, although he now expects the polished diamond segment to account for 4/5/7% of revenue in FY16/17/18E, versus 6/9/13% previously.

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