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SAC Capital downgrades GKE with reduced target price of 12.3 cents

The Edge Singapore
The Edge Singapore1/26/2022 12:1 PM GMT+08  • 1 min read
SAC Capital downgrades GKE with reduced target price of 12.3 cents
GKE's 1HFY2022 earnings missed expectations
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SAC Capital’s Lim Shu Rong has downgraded GKE Corp to “hold” from “buy”, together with a reduced target price of 12.3 cents from 17.1 cents previously, following the company’s 1HFY2022 earnings that missed expectations.

For the company’s six months ended Nov 2021, earnings dropped by 41.5% y-o-y, on the back of a 8.4% y-o-y dip in revenue to $55 million.

These numbers were 34% and 43% respectively of Lim’s projections.

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