Venture Corp - CGS-CIMB Research 2022-04-29: Going Back To Pre-COVID-19 Levels

Venture Corp - Going Back To Pre-COVID-19 Levels

VENTURE CORPORATION LIMITED (SGX:V03) | SGinvestors.ioVENTURE CORPORATION LIMITED (SGX:V03)
  • Venture Corp (SGX:V03)'s 1Q22 revenue grew 29.5% y-o-y to S$889.3m and was above our and Bloomberg consensus’ expectations.
  • 1Q22 net profit grew 28.6% y-o-y to S$84.0m and was also above our and Bloomberg consensus’ expectations.
  • Based on customers’ orders and forecasts, Venture Corp anticipates steady demand outlook across its various technology domains in FY22F. Venture Corp noted that recent new product launches by its customers have been successful.
  • With its strength in R&D, Venture Corp has also been able to mitigate supply chain disruptions and expand its capabilities to fulfil more orders.
  • We reiterate our ADD call on Venture Corp with a target price of S$23.32, based on an unchanged target P/E multiple of 17.3x (0.5 standard deviation above its 20-year average of 15.1x) on FY23F forecast 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 2022-04-29
SGX Stock Analyst Report ADD MAINTAIN ADD 23.320 SAME 23.320




Previous report by CGS-CIMB:
2022-02-25 Venture Corporation - A Year Of Recovery

Target prices by 5 other brokers at Venture Corp Target Prices.
Listing of broker reports at Venture Corp Analyst Report.

Relevant links:
Venture Corp Share Price History,
Venture Corp Announcements,
Venture Corp Dividends & Corp Actions,
Venture Corp News Articles





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