SINGAPORE (May 2): UOB Kay Hian is keeping its “hold” call on components solution provider Memtech International and cutting its target price to $1.32, from $1.50 previously.
This comes amid a significant de-rating of most contract manufacturers (CM) and plastic injection moulders (PIM) over the last few days, according to analyst Nicholas Leow.
“We expect sentiment in share prices of CM and PIM to remain weak, given that some peers have missed consensus earnings estimates,” Leow says in a report on Friday.
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