OSIM Target Price $2.11 BUY by OCBC Research

OCBC has cut its target price for Singapore lifestyle products firm Osim International (OSIL.SI), which is best known for its massage chairs, to $2.11 from $2.34 and kept its buy rating.

OCBC Investment Research cut its target price for Osim to account for a larger share base resulting from the recent exercise of its warrants.

However, OCBC remains bullish on Osim's growth prospects as its product range should benefit from research and development efforts to boost product innovation.

"While current economic uncertainty surrounding the EU and U.S. could dampen investor sentiment, we believe that the fundamentals of Osim remain strong and ample growth opportunities exist," said OCBC in a report.