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Frencken gets a 'buy' amid expectations of a positive year; analysts lower target price on possibility of slower growth

Amala Balakrishner
Amala Balakrishner3/3/2022 6:53 PM GMT+08  • 5 min read
Frencken gets a 'buy' amid expectations of a positive year; analysts lower target price on possibility of slower growth
CGS-CIMB's Tng, DBS’ Ling and RHB’s Seet have posted “buy” and “add” calls on Frenken, at lower price targets
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Analysts have taken a strong liking for Frencken Group following its results for FY2021 ended Dec 31 2021.

The manufacturer’s full-year earnings grew by 38% to $58.7 million, on the back of 23.6% increase in revenue to $767.1 million.

“This was in line with our expectations [and is] at 102% of our full-year forecast and above Bloomberg consensus expectations at 106%” CGS-CIMB analyst William Tng writes in a research note.

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