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KGI Securities initiates 'buy' on ISDN on strong performance from robotics industry and surprise profit announcement

Lim Hui Jie
Lim Hui Jie8/7/2020 2:47 PM GMT+08  • 2 min read
KGI Securities initiates 'buy' on ISDN on strong performance from robotics industry and surprise profit announcement
KGI Securities has initiated coverage on ISDN holdings with an “outperform” recommendation and a target price of 42 cents. This is due to strong growth in the robotics industry and a surprise profit announcement
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KGI Securities has initiated coverage on ISDN holdings with an “outperform” recommendation and a target price of 42 cents.

Analyst Kenny Tan said in an Aug 6 report, that ISDN should see tailwinds as the robotics industry is expected to grow at a compounded annual growth rate (CAGR) of about 12%, catalysed by improvements of robot labour over manual labour and COVID-19 serving as a catalyst for automation.

He noted that while the 12% prediction was made before the Covid-19 pandemic, recent data has reflected that production is largely back on track.

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