Vicplas International - CGS-CIMB Research 2022-01-31: Medical Business To Spearhead Growth

Vicplas International - Medical Business To Spearhead Growth

  • Vicplas International (SGX:569) has announced its leadership renewal plan, with Mr Walter Tarca, President of its medical business, assuming the role of CEO on 1 Aug 2022.
  • We think the medical segment will drive growth for Vicplas International over FY22- 24F while the pipes segment continues its gradual recovery.
  • We reiterate our ADD call on Vicplas International with target price of S$0.28, based on 11x CY23F EPS, in line with the CY23F sector average P/E.
  • A re-rating catalyst is better-than-expected 1HFY22 (Aug 2021 to Jan 2022) results in Mar 2022.

Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @

William TNG CFA CGS-CIMB Research | Izabella TAN CGS-CIMB Research | 2022-01-31
SGX Stock Analyst Report ADD MAINTAIN ADD 0.275 SAME 0.275

Read also CGS-CIMB's most recent report:
2022-03-14 Vicplas International - Resilience In The Face Of Cost Increases

Relevant links:
Vicplas International Analyst Report,
Vicplas International Target Price,

Vicplas International Share Price History,
Vicplas International Announcements,
Vicplas International Dividends/ Corp Actions,
Vicplas International News Articles


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