SAC Capital has initiated “buy” on manufacturing solutions and service provider Grand Venture Technology (GVT) with a target price of $1.18, representing a 15.7% upside from its last-closed price of $1.02 on July 22.

The discounted cash flow (DCF)-derived target price translates into an FY2021/FY2022 price-to-earnings (P/E) of 25.1 times and 21.2 times respectively, says SAC Capital analyst Tracy Lim in a July 23 report.

To Lim, GVT is likely to see continued “solid growth” in all of its three segments, with the strong global demand for semiconductors.

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