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KGI initiates coverage on Silverlake Axis with 30 cents TP

Samantha Chiew
Samantha Chiew7/9/2020 12:52 PM GMT+08  • 2 min read
KGI initiates coverage on Silverlake Axis with 30 cents TP
Silverlake Axis' lake may be shrinking but new ponds are forming
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SINGAPORE (July 9): KGI Securities is initiating coverage on Silverlake Axis with “outperform” and a target price of 30 cents.

Silverlake Axis has strong, multi-year relationships with key Asian banks and other financial institutions, providing and servicing their core banking systems.

Despite COVID-19 leading to lower project revenue due to delays, banking clients have stepped up requests for more maintenance works, essentially leading to minimal sales fall-off.

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