SINGAPORE (Nov 13): Year-end shopping will drive the fourth quarter earnings of Memtech International, a component supplier for mobile phones, IT equipment and automotive industries, says CIMB in a note to clients.

“We expect stronger consumer electronic sales in fourth quarter to the year-end festive season, driven by customers like Amazon and Netgear,” says the note.

CIMB maintains an add on the stock, while raising the target price to 20 from the earlier estimate of 17 cents. Stock is down 0.8% at 13 cents.