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RHB upgrades Valuetronics to 'neutral' as it sees worst to be over

Felicia Tan
Felicia Tan6/8/2022 11:26 AM GMT+08  • 2 min read
RHB upgrades Valuetronics to 'neutral' as it sees worst to be over
The upgrade comes after Valuetronics had just come off an expectedly tough FY2022 ended March. Photo: Valuetronics
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RHB Group Research analyst Jarick Seet has upgraded his recommendation on Valuetronics to “neutral” from “sell” after deeming the company’s worst times to be over.

Seet has also upped his target price to 53 cents from 51 cents previously.

In his June 8 report, Seet noted that Valuetronics had just come off an expectedly tough FY2022 ended March, with revenue and Patmi falling 11.1% and 39.3% y-o-y to HK$2.03 billion ($355.5 million) and HK$113.5 million respectively.

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