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CIMB optimistic on Memtech as it moves to the beat of customers

PC Lee
PC Lee3/7/2018 11:52 AM GMT+08  • 3 min read
CIMB optimistic on Memtech as it moves to the beat of customers
SINGAPORE (Mar 7): CIMB is optimistic on Memtech International projects from new customers like Tesla, Beats and Bose giving earnings a boost.
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SINGAPORE (Mar 7): CIMB is optimistic on Memtech International projects from new customers like Tesla, Beats and Bose giving earnings a boost.

The research house is also raising its target price to $1.76, based on 12 times FY19 earnings from 10 times previously.

"We think Memtech deserves to trade at a slightly higher P/E multiple than the regional industry average of 11.4 times, given its stronger three-year EPS CAGR of 13.8% versus 12.6% for the industry," says lead analyst Ngoh Yi Sin in a Tuesday report.

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