- We expect Venture Corp (SGX:V03)'s FY23E revenue to come in at S$2.99bn and PATMI at S$270m. We also expect Venture Corp's 4Q23 results due 22 Feb 2024 will be stronger than 3Q23.
- - Read this at SGinvestors.io -
Demand likely to increase in FY24E
- Mass production of several NPIs likely started in 4Q23, with more slated for FY24 with existing and new customers. In addition, management sees signs of inventory depletion among its customers and expects orders to pick up in 4Q23.
- - Read this at SGinvestors.io -
Share buy-back a strong vote of confidence
- On 30 Nov 23, Venture Corp said it approved a buyback of up to 10m shares. It has since made a few purchases and cancelled these shares immediately after purchasing. See latest share buybacks of SGX listed companies.
- We believe this is a strong indication that management believe that Venture Corp is undervalued and we expect EPS to be positively impacted as more shares are purchased after the blackout period. This is also the first time in years Venture Corp has established such a plan where shares are cancelled immediately after purchase.
Stable, gradual recovery
- 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/ 2024-01-30
Read also Maybank's most recent report:
2024-11-10 Venture Corporation - Outlook Still Muted.
Previous report by Maybank:
2024-08-06 Venture Corporation - Recovery Not Strong Enough; Downgrade To HOLD.
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
