Nanofilm Technologies - Focusing On Long-Term Growth
NANOFILM TECHNOLOGIES INTL LTD (SGX:MZH)
- We think NanoFilm Technologies (SGX:MZH)’s 4Q21F was likely better than 3Q21 as production picked up pace.
- Our previous revenue expectations for FY21-23F may need to be lowered for now pending stronger growth recovery for its customers.
- We also think NanoFilm Technologies will continue to see higher operating expenses as it spends to prepare the company for future growth.
- We ascribe a 15% premium to P/E-to-growth ratio of 1.0x (for its potential growth prospects and proprietary technology) and value NanoFilm Technologies at 25.59x FY23F EPS, leading to a lower target price of S$3.92 (previously S$4.02 using 30.44x FY22F EPS).
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 2022-01-18
Read also CGS-CIMB's most recent report:
2023-01-16 Nanofilm Technologies - Holding For Possible Re-Rating In FY24.
Previous report by CGS-CIMB:
2022-11-16 Nanofilm Technologies - FY22 Possibly First Net Profit Decline Since IPO.
Price targets by 2 other brokers at NanoFilm Target Prices.
Listing of research reports at NanoFilm Analyst Reports.
Relevant links:
NanoFilm Share Price History,
NanoFilm Announcements,
NanoFilm Dividends & Corporate Actions,
NanoFilm News Articles
