StockWatch

Credit Suisse is maintaining an "outperform" call on Evergreen Fibreboard after raising the company's 2007 to 2009 earnings forecasts by 5% to 16%. It also raised the stock's target price to RM2.30 from RM2.00 previously. The brokerage said the upgrade reflects latest developments given the higher selling prices in medium density fibreboard (MDF). Evergreen's earnings per share are expected to grow by 53% this year mainly due to the full-year impact of higher MDF prices and the acquisition of Takeuchi MDF.