Riverstone Holdings Likely to Continue Benefiting from AI-Driven Demand
Dow Jones08-17
0222 GMT - Riverstone Holdings is likely to benefit from artificial-intelligence driven demand, UOB Kay Hian analysts say in a report. They point to management commentary highlighting demand from data center and memory-storage applications, reinforcing the company's cleanroom segment as a key earnings driver. The company is also renewing ageing production lines and shifting away from low-margin generic output toward higher-value products. The brokerage lifts its earnings estimates for Riverstone by 20% for 2026, 15% for 2027, and 10% for 2028. It raises the stock's target price to 1.21 Singapore dollars from 1.10 Singapore dollars, with an unchanged buy rating. Shares are 1.2% lower at 0.83 Singapore dollar.
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