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Aztech’s share price correction ‘overdone’; dip is ‘good buying opportunity’: UOBKH

Lim Hui Jie
Lim Hui Jie1/10/2022 3:40 PM GMT+08  • 3 min read
Aztech’s share price correction ‘overdone’; dip is ‘good buying opportunity’: UOBKH
UOB Kay Hian thinks that Aztech's businesses are still robust, despite its share price falling about 30% since its IPO.
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UOB Kay Hian analysts John Cheong and Clement Ho have maintained their “buy” call on Aztech Global, but with a lowered target price of $1.55 from $1.70 previously.

The lower target price is pegged to an unchanged FY2022 earnings of 13.3 times, which is still pegged to Aztech’s Singapore peers’ average, write the analysts in a Jan 10 report.

“We continue to like Aztech as the proxy to high-growth IoT products, where we believe orders are just starting to ramp up in 2021 and would sustain into 2022,” they add.

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