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DBS and SAC Capital trim target prices on Grand Venture, but maintains ‘buy’ calls

Lim Hui Jie
Lim Hui Jie5/12/2022 11:19 AM GMT+08  • 3 min read
DBS and SAC Capital trim target prices on Grand Venture, but maintains ‘buy’ calls
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DBS Group Research has maintained its “buy” call on Grand Venture Technology (GVT) but has cut its target price on the stock to $1.40, compared to $1.50 previously.

In a May 9 report, analyst Ling Lee Keng writes that the company’s 1QFY2022 revenue figure of $32.5 million was “in line with expectations”. However, its net profit margin of 11.2% (down from 14.5 in 1QFY2021) was lower than expected.

Nonetheless, she is positive about GVT’s outlook, noting that its expansion into the front-end semiconductor space is a key growth driver.

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