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Why CEI shareholders have cause to celebrate despite less-than-stellar results

Michelle Zhu
Michelle Zhu2/14/2017 01:38 PM GMT+08  • 2 min read
Why CEI shareholders have cause to celebrate despite less-than-stellar results
SINGAPORE (Feb 14): CIMB Research is maintaining its “add” recommendation on CEI, raising its target price to $1.11 from $1.04 previously as the research house rolls over to FY18F.
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SINGAPORE (Feb 14): CIMB Research is maintaining its “add” recommendation on CEI, raising its target price to $1.11 from $1.04 previously as the research house rolls over to FY18F.

The group serves customers across market segments including the oil and gas (O&G), aviation, semi-conductor and medical equipment industries.

To recap, CEI’s FY16 revenue fell 1.6% on-year due to the weakening of the O&G industry over 2016, largely due to a customer in the O&G industry that accounted for about 10% of the group’s sales.

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