Maybank Kim Eng Research analyst Eric Ong has started “buy” on Sarine Technologies with a target price of 70 cents, representing a 19% upside on the stock as at his report dated May 28. 

Ong’s “intrinsic value implies 17.9 times FY2021 price earnings (P/E) and 14.4 times FY2022 P/E, compared to over 20 times during the previous upcycle.”

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