Grand Venture Technology - Announced 2 Acquisitions In Dec 2021
- Grand Venture Technology (GVTL, SGX:JLB) ended 2021 with 2 new acquisitions (Formach and J-Dragon) that adds new capabilities and production capacity.
- We think investors can expect more acquisitions in FY22F as the company remains steadfast in its expansion drive.
- To better reflect its growth focus, we switch to a P/E methodology and factor in a base case profit contribution from J-Dragon for FY22F-23F. We now value Grand Venture Technology at 15.8x FY23F EPS for a higher target price of S$1.74.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
William TNG CFA CGS-CIMB Research | https://www.cgs-cimb.com 2022-01-04 2022-01-04
Read also CGS-CIMB's most recent report:
2022-01-12 Grand Venture Technology - Very Much Focused On Growth
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