Stock Name: Venture
Company Name: VENTURE CORPORATION LIMITED
“U.S. economic weakness may lead to weaker-than-expected earnings for Venture. With growth coming mainly from the Test and Measurement and Retail Store Solutions segments, where the key customers are American, Venture will depend on the U.S. market for much of this year’s momentum,” said Kim Eng in a report.
Company Name: VENTURE CORPORATION LIMITED
| Research House: Kim Eng | Price Call: BUY | Target Price: 10.40 |
Kim Eng Research has cut its target price for Singapore’s electronics manufacturer Venture Corp (VENM.SI) to $10.40 from $11.60 but kept its buy rating.
Kim Eng has cut its 2011 earnings forecast for Venture by 10% as it expects the firm’s second quarter earnings to be flat year-on-year, due to the weakness of the U.S. economy in the first half of the year.
Kim Eng has cut its 2011 earnings forecast for Venture by 10% as it expects the firm’s second quarter earnings to be flat year-on-year, due to the weakness of the U.S. economy in the first half of the year.
“U.S. economic weakness may lead to weaker-than-expected earnings for Venture. With growth coming mainly from the Test and Measurement and Retail Store Solutions segments, where the key customers are American, Venture will depend on the U.S. market for much of this year’s momentum,” said Kim Eng in a report.
However, Kim Eng noted that the effects of Japan’s earthquake on global supply chains appear to be easing, while moderating costs of oil and other raw materials are brightening prospects for a recovery in the second half of the year.
At 10:56 a.m., shares of Venture were 0.69% lower at $8.62. They have fallen 6.9% since the start of the year.
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