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CGS-CIMB lowers Aztech Global's TP, EPS estimates on margin pressures

Felicia Tan
Felicia Tan7/20/2022 11:08 AM GMT+08  • 2 min read
CGS-CIMB lowers Aztech Global's TP, EPS estimates on margin pressures
From left: Aztech Global's senior vice president, Jeremy Mun and Aztech Group's CEO, Michael Mun. Photo: Samuel Isaac Chua/The Edge Singapore
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CGS-CIMB Research analyst William Tng is keeping his “add” call on Aztech Global as he sees the prospect of earnings growth for the company.

The analyst has, however, lowered his earnings per share (EPS) estimates for the FY2022 to FY2024 by 2.2% to 5.9% on the back of potential risks of margin pressures.

The lower EPS estimates come as Tng lowers his gross profit margin assumptions for the period given the higher operating costs from the Covid-19-related disruptions in China, inflationary cost pressures and slowing economic growth.

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