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07-07-2008, 08:18 PM

abhinav2492 abhinav2492 is offline

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Straits Asia Resources up on broker upgrade

Straits Asia Resources rose as much as 3.9 percent after Goldman Sachs upgraded the stock to "buy" from "neutral" with a target price of S$4.70.
Goldman Sachs expects the company to get higher coal prices for 2009, and resource upgrades at the Jembayan coal mines, to drive share price outperformance.

Straits Asia Resources's high growth profile and inexpensive valuations has underpin Goldman Sachs to a more bullish view on the stock.

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