CGS-CIMB Research’s William Tng has maintained an unchanged “Add” rating and target price of $5.52 on Nanofilm International on the expectation of an upcoming product launch by one of its customers. 

In an April 19 note, Tng said that according to the brokerage’s checks, Nanofilm’s Customer Z (a major customer by revenue) has an upcoming product launch that could potentially introduce a series of new product lines to their portfolio. He added, “Our checks also suggest that a new line of tablets could likely hit the market with higher technological specifications that should encourage replacement demand from end-consumers, in our view.” 

After meeting with Nanofilm’s management, Tng understands there is anticipation among consumers over the upcoming launch. “we inferred from our discussions that as NANO currently has a big market share in coating tablets for Customer Z, it could potentially become a beneficiary should the new tablets become a hit among consumers, and that demand for wearables remains robust to date.” 

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