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CGS-CIMB slashes Nanofilm target price to $3.07, cuts revenue forecasts

Lim Hui Jie
Lim Hui Jie7/1/2022 10:07 AM GMT+08  • 2 min read
CGS-CIMB slashes Nanofilm target price to $3.07, cuts revenue forecasts
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CGS-CIMB Research analyst William Tng has maintained his “add” call on Nanofilm, but lowered his target price on the stock from $3.50 to $3.07.

In a June 30 note, Tng notes that China’s lockdowns may have caused operating costs for the company to spike, putting pressure on its revenue for 1HFY2022 ending June 30.

He notes that Nanofilm’s main production site is in Shanghai, as well as the various related supply chains of its key customers are in that area.

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