SINGAPORE (Jun 2): Burn-in testing specialist Avi-Tech is going places as it hitches a ride on rising demands for its services on the back of emerging technologies such as autonomous driving.

CGS-CIMB has initiated coverage on the counter with an “add” or “buy” recommendation and at a target price of 42.2 cents. This represents a potential upside of 9.5% from the company’s share price of 38.5 cents as at June 1.

The brokerage’s analysts William Tng and Caleb Pang note that Avi-Tech has benefitted from the structural growth of automotive electronic components.

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