Company Name: VENTURE CORPORATION LIMITED
| Research House: OCBC | Price Call: BUY | Target Price: 9.41 |
OCBC Investment Research upgraded Singapore electronics contract manufacturer Venture Corp to buy from hold and raised its target price to $9.41 from $7.83, on signs of an improving global economy.
Venture's shares were up 0.8% at $8.67, and have gained nearly 40% so far this year.
OCBC said manufacturing data from China and the U.S. have been stronger than expected, indicating that conditions in the technology and manufacturing sector will improve.
The broker expects Venture's earnings to improve after the seasonally-weak first quarter, helped by new product launches and better relations with its key customers.
“Venture is well-positioned to acquire new customers and gain market share from competitors as it continues its strategic focus on moving up the technological value chain,” OCBC said.
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