SINGAPORE (Oct 28): CIMB Securities is upgrading its former “hold” call on Venture Corporation to “add” with a higher price target of $10.57 from $9.52 previously, after rolling over to FY18F in anticipation of the company’s impending 3Q financial results announcement.

In a Thursday report, analyst William Tng highlights that Venture’s business has a tendency to be stronger in the second half of the year, and he believes this pattern will continue in FY16.

“Based on our channel checks of its customers, although some customers have turned cautious, on balance most are still cautiously optimistic. As such, we expect Venture to see q-o-q and y-o-y growth in its 3Q16 results,” says Tng.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook