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CGS-CIMB ups UMS's revenue forecasts on its strong order book

Felicia Tan
Felicia Tan5/13/2022 03:26 PM GMT+08  • 2 min read
CGS-CIMB ups UMS's revenue forecasts on its strong order book
CGS-CIMB analyst William Tng has kept his target price unchanged at $1.63 on UMS. Photo: Bloomberg
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CGS-CIMB Research is keeping its “add” call on UMS as the company’s net profit for the 1QFY2022 ended March stood in line with the brokerage’s expectations.

UMS’s revenue for the quarter stood above CGS-CIMB analyst William Tng’s expectations.

In his report dated May 11, Tng has kept his target price unchanged at $1.63, which is based on a target P/E of 14.45x on his FY2023 earnings per share (EPS) forecast.

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