OCBC raises Venture Corp. (V03.SG) fair value to $12.10 from $10.73 as the house rolls forward 15x valuation from blended FY10F/FY11F EPS to FY11F EPS; keeps at Buy.

“After recently posting a fairly decent set of 3Q10 results, Venture Corp expects to see sequential revenue growth going into its seasonally strong quarter, noting most of its customers have maintained their positive sentiment.”

In the medium term, says the company remains driven to achieving profitable growth, will continue to make a push for higher-margin ODM business; it also intends to build up its solutions/enterprise segment with its own Intellectual Properties.