BUY
TPV Technology ING Financial Markets has maintained its 'buy' rating, with margins for the manufacturer of liquid crystal display (LCD) monitors looking better than expected. Analyst Paul Snelgrove said TPV's 12 per cent first-half earnings rise was in line with expectations and forecast an even better second half. He said margin expansion was a 'positive surprise', especially considering rising LCD panel prices in the first half. Mr Snelgrove raised his LCD shipping forecast for the world's No2 monitor maker, which, coupled with margin improvement, lifts ING's earnings forecast estimates by 8 per cent for this year and next. He said the stock was trading at 10 times next year's expected earnings and raised his target price to $4.24.
BUY
Kerry Properties DBS Vickers has maintained its 'buy' rating as its sees good upside potential in view of improving market conditions. Analyst Winnie Chiu said prospects for logistics, property development and infrastructure looked encouraging. She also said that with more than a third of its business tied to the high-end market, a 10 per cent rise in luxury property values would enhance net asset value by 70 cents per share. Ms Chiu expected annual earnings to grow at 29 per cent until the end of next year.
BUY
Top Form International Kim Eng Securities has maintained its 'buy' rating, expecting this year's profits to top expectations. Analyst Mavis Hui said the brassiere maker recently began receiving orders from its new United States client Maidenform and order momentum would pick up from the third quarter. Phase two of its new factory in Jiangxi province was completed last month. Ms Hui said the stock was trading at 9.6 times forecast earnings and set a $1.50 target price.