SINGAPORE (Nov 13): Analysts from RHB Research, Maybank Kim Eng Research and UOB Kay Hian are maintaining their “buy” recommendations on Valuetronics Holdings. However, all three brokerages are also lowering their target prices for the electronics manufacturer.

This comes as Valuetronics reported a 12.8% decline in earnings to HK$44.3 million ($7.8 million) for the 2Q19 ended September, falling from HK$50.8 million a year ago.

2Q19 revenue slipped 1.3% to HK$716.2 million, dragged by a 22.0% decline in Consumer Electronics (CE) revenue to HK$296.9 million. This was the result of a slowdown in demand from CE customer in the smart lighting business, as well as production disruptions in late September caused by the flash flooding from Super Typhoon Mangkhut.

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