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SAC Capital lifts Megachem's TP to 58 cents on elevated sales due to higher demand

Felicia Tan
Felicia Tan3/14/2022 05:18 PM GMT+08  • 2 min read
SAC Capital lifts Megachem's TP to 58 cents on elevated sales due to higher demand
Going into FY2022, SAC Capital has raised its topline estimates for the year by 4.4% as it expects sales to remain elevated.
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SAC Capital analyst Lam Wang Kwan is remaining buoyant on Megachem with a “buy” call after the chemicals company saw a record year.

For the FY2021 ended December, Megachem saw its topline grow 32.0% y-o-y to $140.3 million, while its bottom line surged 52.0% y-o-y to $8.0 million, surpassing Lam’s full-year forecasts by 5.4% and 25.0% respectively.

Going into FY2022, Lam has raised his topline estimates for the year by 4.4% as he expects sales to remain elevated, driven by demand.

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