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Venture’s 1Q expected to be positive, keep ‘buy’: RHB

Lim Hui Jie
Lim Hui Jie4/26/2022 11:21 AM GMT+08  • 2 min read
Venture’s 1Q expected to be positive, keep ‘buy’: RHB
Photo credit: Venture Corp
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RHB Group Research analyst Jarick Seet has maintained his “buy” rating and an unchanged target price of $22.80 on Venture Corp, expecting that its upcoming 1QFY2022 results (ending March) should be “positive”.

This is due to its backlog from 4QFY2021, strong demand across most of its segments, and coupled with the component shortages slowly easing, Seet says. “As a result, we do think that FY2022 will enjoy a stronger performance than the one in the previous year.”

Despite the Covid-19-induced lockdown in Shanghai, Seet is forecasting a net profit after tax (NPAT) of $78 million to $82 million for the 1QFY2022.

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