SINGAPORE (June 11): CGS-CIMB Securities is reiterating a number of its top stock picks across various sectors following its recent marketing trip to Tokyo and Hong Kong.
There, the research house found that investors in indexed funds were generally “overweight” on Singapore banks and technology, mainly Venture Corp. The tech manufacturer is rated “add” by CGS-CIMB with a target price of $25.64, and valued at 15.4 times the 11-year average P/E.
In a report last Friday, analyst Lim Siew Khee underscores the widely-held Venture Corp as the worst performer of 2Q18, although she still sees room for profit-taking going forward. According to her, re-rating catalysts include stronger-than-expected business momentum, while the downside risk is a pullback in orders by customers.
