Valuetronics Set to Benefit From New Customers -- Market Talk

Dow Jones2023-11-20

0314 GMT - Valuetronics is set to benefit from new customers, UOB Kay Hian analyst John Cheong says in a research note as the brokerage raises the stock's rating to buy from hold and the target price to S$0.72 from S$0.56. The Singapore-listed company has successfully started initial shipments at end-FY 2023 for two new customers, which will likely provide full-year contribution to its FY 2024 earnings, the analyst says. The electronics manufacturing services provider also recently acquired two more new customers, for which management expects shipments to be made in 2H FY 2024 and production ramp-up in FY 2025, the analyst adds. Shares are unchanged at S$0.555. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

November 19, 2023 22:14 ET (03:14 GMT)

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