Frencken - Maybank Research 2024-11-20: Slower Recovery But Still The Cream Of The Crop

Frencken - Slower Recovery But Still The Cream Of The Crop

Published:
Frencken (SGX:E28) | SGinvestors.io
  • Frencken reported 3Q24 revenue of S$198.6m and PATMI of S$9.2m, up 7.7% q-o-q and 29.3% y-o-y, below consensus and our estimates. This was mainly due to a decline in the medical and automotive segments as well as lower-than-expected growth in the life sciences and semi-con segments.

Maintain BUY with a lower target price of S$1.50

  • - Read this at SGinvestors.io -
  • Frencken remains our Top Pick in the Singapore tech sector.

Semi-con ramp up likely delayed to 2-3Q25

  • - Read this at SGinvestors.io -
  • Potential trade restrictions between major powers the US and China will continue to impact global demand but we believe that the long-term growth story is intact.

Life sciences/medical growth slower than expected

  • 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.com/ 2024-11-20



Previous report by Maybank:
2024-10-14 Frencken - Ramp Up Likely Only From 2-3Q25 Onwards.

Price targets by 4 other brokers at Frencken Target Prices.

Listing of research reports at Frencken Analyst Reports.

Relevant links:
Frencken Share Price History,
Frencken Announcements,
Frencken Dividends & Corporate Actions,
Frencken News Articles





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