CSE Global - Maybank Research 2024-05-01: Solid 1Q Growth + Order Wins

CSE Global - Solid 1Q Growth + Order Wins

Published:
CSE Global (SGX:544) | SGinvestors.ioCSE Global (SGX:544)
  • CSE Global (SGX:544) said it secured S$186.2m of orders in 1Q24, 16.7% higher y-o-y and excluding the S$49.2m data centre contract announced on 18 Apr, signalling a potentially much strong 2Q24 order intake.
  • - Read this at SGinvestors.io -

Proxy for electrification and data centres

  • With better operating leverage due to strong revenue growth, as witnessed in FY23, we believe margins should continue to improve from 3.1% In FY23 to 3.5-4.0% in FY24E. This would justify our 26% core FY24E EPS growth forecast for CSE Global.
  • CSE Global remains one of our conviction picks and is a rare proxy for electrification/AI/data centres. Maintain BUY.

Electrification will be major growth driver

  • - Read this at SGinvestors.io -
  • We expect electrification to be one of the main growth drivers for CSE Global in the next 2-3 years.

A key beneficiary of AI boom and data centres

  • 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/.



Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2024-05-01



Read also Maybank's most recent report:
2025-02-27 CSE Global - Solid FY24 & Stronger FY25E.

Previous report by Maybank:
2025-01-20 CSE Global - Drill Baby Drill.

Price targets by 2 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 Dividend Payout Dates & Corporate Actions,
CSE Global News






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