SINGAPORE (Nov 7): CIMB is maintaining its “add” call on Venture Corp and raising its target price to $10.94 from $10.57 previously, after the technology services provider posted 16.9% higher 3Q earnings of $47.4 million from a year ago.  

(See also: Venture posts 16.9% earnings growth to $47.4 mil for 3Q)

In a Friday report, analyst William Tng highlights that the group’s core profit was up by 24.5% for the quarter although revenue only rose 1.8% y-o-y – and would have posted a 35.5% y-o-y increase in core profit if not for a US$3 million inventory write-off.

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