KUALA LUMPUR (Nov 25): AffinHwang Capital Research has maintained its Add rating on Uchi Technologies Bhd at RM1.41 with a lower target price of RM1.43 (from RM1.57) and said it does not expect any significant rebound in end demand for premium automatic coffee machines, and this was largely reflected in Uchi’s results.

In a note Tuesday, the research said that furthermore with the macro headwinds in Europe, Uchi’s key market, there was not any near term re-rating catalyst for the stock.

“Nevertheless, dividend yields are compelling at 8% and likely to remain firm.

“We maintain our Add rating with a lower target price of RM1.43, based on an unchanged 12x 2015E EPS,” it said.