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Memtech downgraded to 'hold' with lower TP of $1.08

Samantha Chiew
Samantha Chiew2/28/2019 03:15 PM GMT+08  • 2 min read
Memtech downgraded to 'hold' with lower TP of $1.08
SINGAPORE (Feb 28): CGS-CIMB is downgrading its recommendation on Memtech International to “hold” from “add” with a slightly lowered target price of $1.08 from $1.10 previously.
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SINGAPORE (Feb 28): CGS-CIMB is downgrading its recommendation on Memtech International to “hold” from “add” with a slightly lowered target price of $1.08 from $1.10 previously.

The group yesterday announced that its FY18 earnings have declined by 32% y-o-y to US$9.6 million ($12.9 million), despite a 13.2% increase in revenue to US$19.2 million.


See: Memtech reports 32% decline in FY18 earnings to US$9.6 mil

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