$Frencken(E28.SG)$ RHB has a "buy" call on Frencken and lif...
RHB has a "buy" call on Frencken and lifted their tp to 1.45 from 0.97.
RHB Bank Singapore analyst Alfie Yeo sees signs of the group's revenue and earnings bottoming out. This is led by the better-than -expected 3QFY2023 ended Sept 30 revenue traction from better customer orders and a more positive outlook on the semiconductor industry, Yeo writes in his Nov 27 report.
Frencken's 3QFY2023 revenue of $184 million stood ahead of Yeo's estimates thanks to broad-based growth.
"Despite the continued y-o-y decline in revenue and earnings, we are upbeat on the q-o-q turnover growth and the net profit improvement from Frencken's key segments," he adds.
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