Silverlake Axis Still Looks Attractive on High Recurring Revenue -- Market Talk

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Silverlake Axis Still Looks Attractive on High Recurring Revenue -- Market Talk

Dow Jones2023-08-29

0338 GMT - Silverlake Axis remains attractive to DBS Group Research on its high recurring revenue and impressive gross margin, the bank's analyst Lee Keng Ling says in a report. Its new-order-win momentum remains healthy, with a deal flow of roughly MYR100 million a quarter, the analyst says. Also, more contract wins can be expected, as the rising-rate environment is beneficial for banks, to which the company deploys its proprietary software, the analyst adds. However, DBS cuts its FY 2024 earnings estimate for the Singapore-listed company by 10% to reflect lower margins and higher tax-rate assumptions. It lowers the target price to S$0.35 from S$0.42 while maintaining the stock's buy rating. Shares are unchanged at S$0.265. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

August 28, 2023 23:39 ET (03:39 GMT)

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