It is sheer amazing to see the number of initiation reports being issued on Religare this week.

There are 4 initiation reports!
CIMB – long term outperform with a price target of 95c. The report is here.
DBS – Buy for 10% yield and 97c target. The report is here. To give it due credit, i think it was the first to issue the initiation report.
Nomura – Buy with a target price of 93c. The report is here.
Standard Chartered – Buy with a target price of 96c.  
Share Chart

I spotted this counter yesterday but somehow just couldn’t bring myself to invest in this company for the SRS portfolio. I do think downside is probably limited for now.  A break above 85 will be bullish.