KGI Research analyst Kenny Tan has kept “outperform” on Sarine Technologies with a higher target price of 82 cents from 65 cents previously.

The positive recommendation comes as Sarine Tech posted sales of US$17.3 million ($23.1 million) for the 1QFY2021 ended March, which stood around 34% of Tan’s FY2021 estimate.

As it is, the company’s net profit of US$6.7 million for the 1QFY2021, has already exceeded Tan’s FY2021 estimates.

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