CIMB Raises Unisem Target To MYR4.44 From MYR2.90

0806 GMT [Dow Jones] STOCK CALL: CIMB Research ups Unisem (5005.KU) target to MYR4.44 from MYR2.90, to factor in more positive outlook, increased earnings visibility; values Unisem at a price-to-book of 2.2X which is slightly above mid-cycle valuation of 1.8X-1.9X vs previous target basis of 30% premium over 5-year historical average price-to-book of 1X. "We continue to advocate an Outperform on Unisem on the back of the potential re-rating catalysts of a quarterly improvement in earnings, a more sustained pace of economic recovery and a revival of consumer spending," says analyst Terence Wong; also ups Unisem's FY10-12 earnings forecasts by 11-24% for higher revenue and margin assumptions. Stock last +1.5% at MYR3.35. (elffie.chew@dowjones.com)