- 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
