RHB Group Research analyst Jarick Seet remains bullish on Frencken Group and believes further upside to its share performance is possible.

He maintains his ‘buy’ rating for the counter with a higher target price of $1.77 from $1.52 previously, pegged to a higher multiple of 14 times on the rerating of tech stocks globally

“We are still confident that the group will enjoy an excellent FY2021 [ending December], and remain among the main proxies for semiconductor growth in the Singapore listed space,” he says in a research note on April 13.

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