Creative Technology cut to Fully Valued by DBS Vickers
DBS Vickers downgrades Creative Technology (C76.SG) to Fully Valued from Hold, cuts target price to $3.51 from $5.46, based on three-year historical 0.8x mean P/B, according to Dow Jones. DBS Vickers says while stock backed by net cash of $5.20/share, we expect further cash erosion if the company cannot create desirable products for the market in order to stem losses. Read more…
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