Expect good news on Venture’s 3Q earnings: CIMB

SINGAPORE (Oct 28): CIMB Securities is upgrading its former “hold” call on Venture Corporation to “add” with a higher price target of $10.57 from $9.52 previously, after rolling over to FY18F in anticipation of the company’s impending 3Q financial results announcement.

In a Thursday report, analyst William Tng highlights that Venture’s business has a tendency to be stronger in the second half of the year, and he believes this pattern will continue in FY16.

“Based on our channel checks of its customers, although some customers have turned cautious, on balance most are still cautiously optimistic. As such, we expect Venture to see q-o-q and y-o-y growth in its 3Q16 results,” says Tng.

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