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UOBKH cuts Frencken TP by 21% on seasonal slowdown, tepid 4Q21 expected

Jovi Ho
Jovi Ho1/26/2022 11:44 AM GMT+08  • 3 min read
UOBKH cuts Frencken TP by 21% on seasonal slowdown, tepid 4Q21 expected
“We do not anticipate any surprises in the upcoming 4QFY2021 results for Frencken."
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UOB Kay Hian Research analyst Clement Ho is “not expecting any surprises” in Frencken Group’s upcoming 4QFY2021 results, to be released in the last week of February.

While worldwide chip sales continue to be robust, the technology manufacturer should report slower q-o-q results owing to seasonality effects, adds Ho.

In a Jan 25 note, Ho is maintaining “buy” on Frencken with a trimmed target price of $2.06 from $2.62 previously. The updated target price represents a 23.4% upside.

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