Frencken Group's Revenue Outlook for 1H Appears Stable -- Market Talk

Dow Jones03-04

0306 GMT - Frencken Group's 1H revenue outlook appears stable overall, UOB Kay Hian analyst John Cheong says in a research report, noting management's various revenue expectations for its businesses in 1H. By leveraging on its expanded capacity and strategic manufacturing sites in Europe, Asia and the U.S., the Singapore-listed company will continue to focus on its programs for existing and new customers to ensure it's well-placed for a recovery in global economy and technology sector, the analyst notes. The brokerage lifts its 2024 and 2025 revenue forecasts for the technology solutions provider by 2% and 3%, respectively. It also raises the stock's target price to S$1.74 from S$1.65, with an unchanged buy rating. Shares are 1.2% higher at S$1.67. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 03, 2024 22:06 ET (03:06 GMT)

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