- AEM's management guided 1H24 revenue between S$170-200m, also lower than we expected. As a result, we cut our FY24/25E PATMI forecast for AEM by 51.8% and 17.3% respectively, as order visibility at this point is low.
Target price lowered to S$2.13.
- - Read this at SGinvestors.io -
Disappointing guidance – poor visibility
- AEM announced FY23 revenue of S$481.3m, a 45% y-o-y decrease while PATMI turned to a loss of S$1.2m, lower than we expected.
- - Read this at SGinvestors.io -
All hopes on FY25E
- 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://maybanktrade.com.sg/.
Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2024-03-01
Read also Maybank's most recent report:
2024-04-03 AEM - Bright Sparks Appearing; Worst Likely Over. Upgrade To BUY.
Price targets by 2 other brokers at AEM Target Prices.
Listing of research reports at AEM Analyst Reports.
Relevant links:
AEM Share Price History,
AEM Announcements,
AEM Dividends & Corporate Actions,
AEM News Articles
