Nomura has raised its target price for Singapore-listed medical technology firm Biosensors International Group (BIOS.SI) to $1.70 from $1.65 and kept its buy rating.
Nomura has raised its earnings estimates for Biosensors in fiscal 2012-2014 by 2-5%, after it reported second quarter earnings that were ahead of the brokerage’s expectations.
Biosensors said on Wednesday its second quarter net profit more than doubled to $22.9 million, up from $8.5 million a year ago.
Nomura has raised its earnings estimates for Biosensors in fiscal 2012-2014 by 2-5%, after it reported second quarter earnings that were ahead of the brokerage’s expectations.
Biosensors said on Wednesday its second quarter net profit more than doubled to $22.9 million, up from $8.5 million a year ago.
The brokerage also noted that Biosensors’ management has raised its guidance for sales to grow by 70-80% in fiscal 2012, up from 50-60% previously.
At 12:46 p.m., shares of Biosensors fell 1.1% to $1.40. The shares have risen about 24% since the start of the year.
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