Mewah - puzzling

Lucky I have not touched Mewah. The correction continues, don't know why so bad, despite Subst. Shareholder buying. At 83 cents now, getting more tempting....

Analyst seems to like it:
[url=http://www.nextinsight.net
/story-archive-mainmenu-60/912-2011/4063-dyna-mac-what-analysts-now-say]DYNA-MAC, HU AN CABLE, Singapore Stocks, MEWAH : What analysts now say....[/url]
 

The target prices are very different. Nomura maintains Buy but slashes TP to $1.16 from $1.34.

DBS Vickers downgrades counter to Hold from buy and slashes TP to $0.90 from $1.23.

DJ Mewah Started At Outperform; Target S$1.19 By Credit Suisse 30 Jun, 2011 09:19

credit suisse boh zhun leh.
I will consider buying at 70 cents.
Now 79.5 cents

Credit Suisse this morning > Our view is that palm oil prices will continue to be weak, suggesting that Mewah’s business environment will remain challenging. Mewah management indicated that there are no signs of margins improving at this point.
Hence, we are cutting our estimates of Mewah’s FY11, FY12 and FY13 net profits by 50%, 31% and 36%, respectively. We are downgrading the stock from an Outperform to an UNDERPERFORM, due to the lack of earnings visibility and management guidance. The target price has been cut to S$0.51 from S$1.19 per share.

Looks sad. Daiwa also cut TP > to 48.8 cents.

Bottom may be near but the catalyst for rebound is not visible... Suggest avoid