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DBS, Citi, CGS-CIMB stay upbeat on Nanofilm following 1QFY2022 business update

The Edge Singapore
The Edge Singapore4/20/2022 04:39 PM GMT+08  • 3 min read
DBS, Citi, CGS-CIMB stay upbeat on Nanofilm following 1QFY2022 business update
Nanofilm's operations in Shanghai were largely unaffected by the recent lockdown / Photo: Nanofilm
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Analysts have remained upbeat on Nanofilm Technologies International’s prospects following its business update for its 1QFY2022 ended March 30 2022.

DBS Group Research has kept its “buy” rating and $4.12 target price, while Citibank’s Jame Osman has a similar “buy” call but with a slightly lower price target of $3.92. CGS-CIMB’s William Tng, meanwhile, has an “add” call and $3.50 target price.

According to Nanofilm, revenue for its 1QFY2022 was up 27% over the year earlier period, which was a faster pace versus the overall FY2021 revenue growth of 13% over FY2020.

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