- We expect Venture Corp (SGX:V03)'s 2Q23E to be marginally better than 1Q23 with NPAT at S$80m but still weaker than we initially expected due to macro uncertainties and weaker demand from clients.
- We cut our FY23/24 NPAT forecasts for Venture Corp by 7.7% which lowers our target price to S$15.4 from S$16.5, based on a lower 14.5x FY23E P/E.
2Q23E earnings likely up q-o-q but down y-o-y
- - Read this at SGinvestors.io -
- Previously, Venture Corp's management expected FY23 to be a challenging year due to macro headwinds and now expects near-term demand weakness to continue based on the outlook of its customers. As a result, we cut our FY23 NPAT forecast by 7.7%.
- - Read this at SGinvestors.io -
Expect marginal quarterly improvement
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2023-07-26
Read also Maybank's most recent report:
2024-08-06 Venture Corporation - Recovery Not Strong Enough; Downgrade To HOLD.
Previous report by Maybank:
2024-05-05 Venture Corporation - 1Q Disappoints But Brighter Outlook.
Price targets by 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 Dividends & Corporate Actions,
Venture Corp News Articles
