- CSE Global (SGX:544) just acquired a US radio communication group for US$11m. We view this positively as the acquisition valuation appears attractive and is highly accretive as it could lift CSE’s 2023F earnings by around 20%, assuming Radio One Group’s 2022 earnings can be sustained.
- - Read this at SGinvestors.io -
- We raise our 2023F EPS forecast by 12% to factor in the positive developments. We also raise our target price for CSE by 22% to S$0.45 (14x 2023F PE). Upgrade CSE to BUY.
CSE announced acquisition of Radio One Group.
- - Read this at SGinvestors.io -
- The acquisition is part of CSE’s strategy to expand and grow its communication businesses in the infrastructure industry markets.
CSE announced winning of two major contracts worth S$87m.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
John Cheong UOB Kay Hian Research | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2023-02-01
Read also UOB's most recent report:
2024-07-08 CSE Global - Outlook Remains Positive, Backed By Healthy Orderbook & Pipeline Of New Projects.
Previous report by UOB:
2024-05-13 CSE Global - 1Q24 Revenue In Line; Steady Order Wins Reaffirm 2024 Outlook.
Price targets by other brokers at CSE Global Target Prices.
Listing of research reports at CSE Global Analyst Reports.
Relevant links:
CSE Global Share Price History,
CSE Global Announcements,
CSE Global Dividends & Corporate Actions,
CSE Global News Articles