SINGAPORE (June 22): DBS Research analyst Lee Keng Ling has initiated coverage on integrated electronics manufacturing services provider Valuetronics Holdings with a “hold” call and target price of 53 cents.

The price is based on a 12-month rolling forward PE of 9.4x, which is its 4-year average.

In a note dated June 19, Ling believes that the heightened trade tensions between the US and China could lead to the company’s customers shifting their supply chains out of China.

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