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DBS upgrades Nanofilm Technologies to 'buy' with higher TP of $4.96

Felicia Tan
Felicia Tan12/9/2021 2:3 PM GMT+08  • 2 min read
DBS upgrades Nanofilm Technologies to 'buy' with higher TP of $4.96
DBS says the company should see a "more broad-based improvement" in 2QFY2021, and a normalised situation in 2023.
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DBS Group Research analyst Ling Lee Keng has upgraded her recommendation on Nanofilm Technologies to “buy” from “hold” ahead of the supply chain recovery.

Ling has also upped the counter’s target price estimate to $4.96 from $4.05, representing a 24% upside to its last-closed price of $3.99.

The higher target price is pegged to a higher price-earnings-to-growth ratio (PEG) of 0.92 times from 0.75 times before. This is still at a discount to Nanofilm Technologies’ peers on FY2022 earnings, according to Ling.

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