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UOB KH lowers target price on Nanofilm as it foresees higher expenditures

Lim Hui Jie
Lim Hui Jie1/25/2022 12:51 PM GMT+08  • 3 min read
UOB KH lowers target price on Nanofilm as it foresees higher expenditures
UOB KH has cut its target price on Nanofilm sharply, but still maintained its "buy" call. Find out why.
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UOB Kay Hian has maintained its “buy” call on Nanofilm, but with a lowered target price of $2.67 from $3.90 previously.

The brokerage says it expects Nanofilm to deliver earnings of $47 million for its 2HFY2021 ended Dec 31, 2021 - vs $18 million in 1HFY2021 with the easing of supply chain issues and seasonally stronger demand.

Citing Nanofilm’s Dec 2021 update statement, UOBKH notes that the company's advanced material business unit (AMBU) has seen a rebound for its consumer electronics, communication and computers (3C) sub-segment, following the commencement of its peak period in 4QFY2021.

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