Frencken Group Faces Profit Hit From Delay in Semiconductor Sector Orders -- Market Talk

Dow Jones10-15

0508 GMT - Frencken Group faces a profit hit from a delay in orders from the semiconductor sector, Maybank Research analyst Jarick Seet says in a research report, as the brokerage lowers the stock's target price to S$1.54 from S$1.77 with an unchanged buy rating. Maybank is still not seeing any large ramp-up in orders for the Singapore-listed company via its channel checks in the sector, and now thinks the expected quickening in orders will probably happen from 2Q-3Q in 2025. Maybank cuts its forecasts for the integrated technology solutions provider's profit after tax and minority interests by 15% for 2024 and 18% for 2025. Shares are 2.4% higher at S$1.30. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

October 15, 2024 01:08 ET (05:08 GMT)

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