Venture Corporation - Maybank Research 2023-07-26: Weak 2Q23 Ahead, Cut Target Price

• 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 an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Read also Maybank's most recent report:
2025-11-13 Venture Corp - Ramping Up New Product Introductions.

Previous report by Maybank:
2025-08-07 Venture Corp - More Contact Wins & More Stable Outlook.

Price targets by 2 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