3Q18 results

Manufacturing presence in Malaysia could benefit Venture amid trade war: CGS-CIMB

SINGAPORE (Nov 7): CGS-CIMB Securities is upgrading its call on Venture Corporation to “add” from “hold” previously as it rolls over to FY20F.

At the same time, the research house is lowering its target price from $17.83 to $17.44 after accounting for lower revenue growth expectations, which has led to a cut in FY18-20F core earnings per share (EPS) by 6.6-10.9%.

The new target price is based on a 12.3 times multiple, 0.5 standard deviation points below the 11-year average of 15.3 times.

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