$Nanofilm (MZH.SG)$ DBS has upgraded Nanofilm from "fully va...

DBS has upgraded Nanofilm from "fully valued" to "hold" following signs of recovery in its key consumer electronics segment as seen by its 1QFY2024 business update. The target price is unchanged at 63 cents.

On Apr 22, the company, which provides coating services for parts used in electronics and other products, reported that its 1QFY2024 revenue was up 19% y-o-y to $39 million.

It expects profitability to improve in FY2024 from the continuous optimisation of cost structures and lower capital expenditure.