0238 GMT - Nanofilm Technologies International's earnings recovery could take some time, UOB Kay Hian analysts say in a research report, as they maintain their sell rating on the stock. The analysts cite weakness in the higher-margin businesses of the Singapore-listed nanotechnology solutions provider, such as its industrial equipment business unit and its coating services for wearables. The brokerage trims its 2024 earnings forecast for Nanofilm Technologies by 6% to reflect its increased administrative-cost estimates, owing to the company's continued expansion activities in India and Vietnam. It also lowers its target price for the stock to S$0.560 from S$0.605. Shares are 0.8% higher at S$0.650. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 25, 2024 22:38 ET (02:38 GMT)
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