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Sarine Tech is getting back its shine, says CIMB

Samantha Chiew
Samantha Chiew2/6/2018 11:09 AM GMT+08  • 3 min read
Sarine Tech is getting back its shine, says CIMB
SINGAPORE (Feb 6): CIMB is upgrading its call on Sarine Technologies to “add” from “hold” previously, with a lowered target price of $1.56.
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SINGAPORE (Feb 6): CIMB is upgrading its call on Sarine Technologies to “add” from “hold” previously, with a lowered target price of $1.56.

In a Monday report, analyst Colin Tan says, “We think a lower rough/polished diamond price spread will restore manufacturers’ profitability, eventually leading to better revenue for Sarine as the bulk of its business is still heavily dependent on mid-stream manufacturing activities.”

According to media reports in India, the reason polished prices jumped 3-4% over the last two weeks of Jan 2018 was due to robust demand from domestic and international jewellery manufacturers.

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