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Solid Beats in 3Q earnings earn Memtech an upgrade

Michelle Zhu
Michelle Zhu11/15/2016 11:06 AM GMT+08  • 2 min read
Solid Beats in 3Q earnings earn Memtech an upgrade
SINGAPORE (Nov 15): OCBC Investment Research is upgrading its call on Memtech International from “hold” to “buy” while raising its fair value from 48 cents to 76 cents, with the view that current price levels are looking attractive.
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SINGAPORE (Nov 15): OCBC Investment Research is upgrading its call on Memtech International from “hold” to “buy” while raising its fair value from 48 cents to 76 cents, with the view that current price levels are looking attractive.

The electronics components maker, which owns the brand ‘Beats by Dr. Dre’, last week posted US$3.1 million ($4.4 million) in earnings for the third quarter ended Sept 30 – which was nearly double from US$1.6 million a year ago with revenue jumping 25.3% y-o-y.

This came on the back of a jump in contributions from the group’s consumer electronics (CE) segment as the group began production of its first Beats project during the quarter.

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