SINGAPORE (Aug 18): RHB is maintaining its “neutral” rating on electronics manufacturer Valuetronics with a target price of 54 cents as the industrial and commercial electronics (ICE) segment continues to be it main driver of growth.
In 1Q17, revenue from ICE segment grew 15.8% given the sector’s stronger visibility and scalability, even as the company rode the new automotive industry revenue stream.
Analyst Jarick Seet says the ICE segment should continue to deliver double-digit growth for FY17F-18F, with a potential catalyst being Philips’ listing of its lighting business.
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