Highlights

Venture Corporation - Tailwinds From Trade Shifts?

Date: 06/08/2018

Source  :  DBS Vickers
Stock  :  Venture       Price Target  :  22.90      |      Price Call  :  BUY
        Last Price  :  16.27      |      Upside/Downside  :  +6.63 (40.75%)
 


  • Venture’s 2Q18 net profit of S$97.9m (+40.2% y-o-y) and surprise interim dividend of 20 Scts should help instill investor confidence.
  • Ongoing diversion of production flows from China into ASEAN also suggests that trade concerns may be overdone.
  • Growth outlook remains positive, but could see some near- term volatility on customers’ M&A and product transitions.
  • Maintain BUY; Target Price lowered to S$22.90.

Maintain BUY With Lower Target Price of S$22.90

Manufacturing-related stocks on the SGX have fallen 10-32% YTD on the back of macro uncertainties, but insights shared during the 2Q18 briefing suggests that trade concerns for Venture may be overdone.

Source: DBS Research - 06 Aug 2018

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Labels: Venture

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Chart Stock Name Last Change Volume 
Venture 16.27 +0.10 (0.62%) 854,200 

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