- On 17 Aug, CSE Global announced it has secured 3 major contracts worth S$47.5m, two for electrification solutions in the US.
- We are bullish as the US is undergoing an infrastructure upgrade boom for its power grid for EVs. We expect contribution from US infrastructure projects to surge in the next 2-3 years. Australia is also stepping up electrification for EVs and has been ramping up the upgrading of its grid.
- - Read this at SGinvestors.io -
- CSE Global (SGX:544) remains our Top Pick in the SMIDs space. Maintain BUY with a S$0.65 target price based on 15.5x FY24E P/E.
Electrification – huge growth potential
- See CSE Global's announcements dated 17 Aug 2023. Two of the new contracts are to design, manufacture and integrate power distribution centres and electrical systems and equipment in the US from 2023-25. Another involves communication and security systems for the Singapore government.
- - Read this at SGinvestors.io -
- We expect the US contribution for infrastructure to grow significantly in the next 2-3 years by 100-200%.
CEO bought shares – vote of confidence
- 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/ 2023-08-22
Read also Maybank's most recent report:
2024-08-07 CSE Global - Solid 1H24 Justified Our Conviction.
Previous report by Maybank:
2024-07-23 CSE Global - Overhang Cleared And Positive 1H24E Looming.
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