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Analysts raise target prices for Venture Corp following 1HFY2022 earnings beat

The Edge Singapore
The Edge Singapore8/8/2022 04:30 PM GMT+08  • 3 min read
Analysts raise target prices for Venture Corp following 1HFY2022 earnings beat
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Analysts have generally maintained their positive view on Venture Corp after the blue-chip manufacturing services firm reported better than expected earnings for 1HFY2022.

For the six months to June 30, Venture Corp reported earnings of $174 million, up 24% y-o-y. Besides growing the topline, the company was able to maintain its net margins at 9.7% - despite cost pressures inflicted on the global economy.

“The strong growth was due to growth across all the domains and its ability to overcome supply-side challenges including global supply chain constraints, rising inflationary pressures and a tight labour situation,” writes UOB Kay Hian’s John Cheong in his Aug 8 note.

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