Brokers' take

Memtech International | Buy Target price: S$1.05 April 25 close: S$0.84 UOB Kay Hian, April 25

Companies operating in the precision engineering space experienced a sector re-rating over the last few months, driven by stronger H2 16 results and M&A interest. Memtech remains one of the sector laggards. Its earnings momentum is likely to continue into 2017 and investors can look forward to continued earnings momentum, increase in dividend frequency and potential dividend surprises. M&A remains a possibility given the automotive exposure and strong cash flow.

Raffles Medical Group | Buy Target price: S$1.67 April 25 close: S$1.39 Maybank Kim Eng Research, April 25