Globetronics upgraded to Buy

KUALA LUMPUR: AllianceDBS Research has upgraded its call to “buy” from “hold” on Globetronics Technology Bhd (GTB) for a 33% total return, with a target price of RM7.50 based on financial year 2016 (FY16) earnings per share of 18 times.

The research house said on Thursday, the company’s end-customer division would possibly introduce a major camera upgrade in its next-gen smartphone model next year.