SINGAPORE (Oct 7): Maybank Kim Eng is reiterating its “buy” call on Innovalues, the customised machined parts and components manufacturer for the automotive and office automation industries, with an unchanged price target of $1.15.

In a Thursday report, analyst Gregory Yap says he remains positive even as the stock has retreated since its peak of $1.11 in July, as this makes it a “fundamental better buy” at its lower levels.

“Innovalues is looking more attractive at current levels,” comments Yap as he highlights the stock as a reasonable-growth, net-cash company with high margins.

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