Brokers' take

Sunningdale Tech | Hold UOB Kay Hian, April 7 April 7 close: S$1.79 Target price: S$1.83

THE M&A fever in the precision engineering space continues with Fisher Tech's recent announcement of a possible transaction. We downgrade Sunningdale to "hold" as the share price has done enormously well, returning 29 per cent since our initiation in early March 2017. Sunningdale remains a prime M&A target, given its substantial free cash flow and solid balance sheet. Our target price implies a historical 2016 P/B ratio of 1.0x.

Singapore Myanmar Investco | Buy OCBC Investment Research, April 7 April 7 close: S$0.58 Target price: S$0.97