PhillipCapital analyst Yik Ban Chong has in his July 11 report initiated coverage on semicon player Frencken Group (Frencken) with a “buy” call and a target price (TP) of $1.76, with a view that the company is now undervalued even as it is poised for clear growth ahead.
In the 1QFY2025 ended March, revenue in Frencken’s semiconductor segment grew 34% y-o-y from a strong rebound in sales from its Asia operations.
This was possibly due to its Netherlands-based customer broadening its product portfolio, conducting tests in Asia for lithography machines used to produce two nanometre (nm) chips.
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