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DBS downgrades Medtecs to 'hold' after 'missed expectations' for 1Q21

Lim Hui Jie
Lim Hui Jie5/10/2021 1:7 PM GMT+08  • 2 min read
DBS downgrades Medtecs to 'hold' after 'missed expectations' for 1Q21
Despite a stellar y-o-y performance, DBS Group Research has downgraded Medtecs to a "hold" rating. Find out why.
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DBS Group Research’s Woon Bing Yong and Ling Lee Keng have downgraded their rating for Medtecs International from ‘buy’ to ‘hold’, as well as lowering their target price to 92 cents from $1.25.

They cited a “disappointing” performance for 1QFY2021, noting the decline in revenue to US$42.2 million ($55.87 million).

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