Venture Corporation - UOB Kay Hian 2023-05-08: Expect Near-Term Weakness; Downgrade To HOLD

• Venture Corp's 1Q23 earnings of S$74m (-12% y-o-y) came in below expectations, accounting for 19% of our full-year estimate. 1Q23 revenue fell 8% y-o-y due to weaker demand from customers as a result of more challenging market conditions.
• - Read this at SGinvestors.io -
• We trim our 2023 earnings forecast for Venture Corp by 16%. Downgrade Venture Corp to HOLD with target price: S$16.99.

Venture's 1Q23 results below expectations due to weaker demand.

• - Read this at SGinvestors.io -
• 1Q23 net margin fell 0.5ppt to 9.0%, mainly due to lower operating leverage as revenue declined. Also, Venture Corp continued to maintain its workforce and operations in preparation for the recovery and to capture more market share.

Expect near-term demand weakness.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-01-21 Venture Corporation - Remain Focused & Cautiously Optimistic For The Medium Term.

Previous report by UOB:
2024-07-31 Venture Corporation 2Q24 Results Preview - Expect A Sequential Improvement.

Price targets by 4 other brokers at Venture Corp Target Prices.

Listing of research reports at Venture Corp Analyst Reports.

Relevant links:
Venture Corp Share Price History,
Venture Corp Announcements,
Venture Corp Dividend Payout Dates & Corporate Actions,
Venture Corp News