KGI’s Kenny Tan has given an “outperform” rating to Innotek with a target price of $1.12, up from his previous target price of 73 cents. 

The company has posted FY2020 results that Tan describes as “another show of resilience” and “above KGI’s expectations”.  

In a May 21 report, he points out that through the annual report and annual general meeting, management has communicated strong expectations for the automotive division, led by a strong push for electric vehicles in China.

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