Silverlake Axis - Riding On Banks' Spending Recovery | I3investor

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Silverlake Axis - Riding On Banks' Spending Recovery

StockFanatic

Publish date: Wed, 20 Jun 2018, 02:52 PM

Maintain BUY and SGD0.65 TP, 25% upside. Silverlake's poor FY17-18 financial performances have been on regional banks cutting/pulling back on major IT spending over the last two years. However, we understand these banks are now open to large IT capex again, with some needing to upgrade core banking systems. This trend is justified by Silverlake's contract wins over the last few months and orderbook at near record highs. Hence, we think earnings will surge strongly over the next two years, especially in FY19, and maintain our call on this counter.

Silverlake Axis (5CP)

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