Riverstone - RHB Invest 2024-05-13: Let The Good Times Roll; Keep BUY

• Keep BUY rating on Riverstone with higher DCF-derived S$1.05 target price from S$0.93, 18% upside from the current Riverstone share price and 5% dividend yield.
• - Read this at SGinvestors.io -

Key operating metrics.

• To recap, Riverstone (SGX:AP4) saw ASPs across its businesses post stabilised q-o-q trends in 1Q24, with cleanroom and healthcare ASPs recorded at US$90 and US$28/1,000 pieces, i.e. largely unchanged vs 4Q23’s numbers.
  • - Read this at SGinvestors.io -
  • Sales volumes for cleanroom products were said to improve 5% q-o-q in 1Q24 (4Q23: +5% q-o-q) and management is expecting the growth momentum for such products to continue in the coming quarters – underpinned by the semiconductor industry’s recovery.

Margins.

• Read more at SGinvestors.io.

Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2024-05-13 SGinvestors.io

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