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Slower demand in Japan but Venture expects Europe, South Korea to pick up the slack

Samantha Chiew
Samantha Chiew4/24/2018 02:55 PM GMT+08  • 2 min read
Slower demand in Japan but Venture expects Europe, South Korea to pick up the slack
SINGAPORE (Apr 24): UOB Kay Hian is maintaining its “buy” call on Venture Corporation with a lower target price of $30.60.
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SINGAPORE (Apr 24): UOB Kay Hian is maintaining its “buy” call on Venture Corporation with a lower target price of $30.60.

In a Monday report, analyst Foo Zhi Wei says Venture's share price has largely overreacted to Phillip Morris International’s (PMI) slower 1Q18 growth of I Quit Ordinary Smoking (IQOS) e-cigarette products in its key market of Japan.

This was attributed to sales reaching an older segment of users in their 50s at a faster-than-expected rate, resulting in a slowdown in growth due to slower adoption.

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