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2009-6-16 09:54:00 a.m. HKT, XFNA
DJ MARKET TALK: VTech Best Bid HK$40.20; CS Ups To Outperform
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| 0943 [Dow Jones] At pre-open, VTech (0303.HK) best bid at HK$40.20, ask at HK$41.20 vs Monday's close of HK$40.20, as any downside from reporting lower earnings supported by generous dividend. Stock hasn't traded below HK$39.00 in June, unlikely to be troubled. Credit Suisse upgrades stock to Outperform from Neutral, doubles target price to HK$50.00; lauds results with positive surprise coming mostly from superior cost management. Says company raises dividend payout ratio to 91% another pleasant surprise; adds, management indicates such payout ratio sustainable.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
(Delayed by 1 hour)
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