Venture Corporation (Venture)

Analysts bearish on Venture Corp in the near term, Citi downgrades to ‘neutral’  - THE EDGE SINGAPORE

Broker's Calls

Analysts bearish on Venture Corp in the near term, Citi downgrades to ‘neutral’

The analyst at Citi Research has downgraded his call from “buy” to “neutral” at a reduced target price of $14 from $15.70 previously, citing earnings pressures from softer product sales.

New appointments

Venture Corp appoints Wong Chee Kheong as group CEO

At the same time, Venture’s CEO for technology products & solutions, Lee Ghai Keen, has resigned due to personal reasons.

Insider moves

Venture Corp’s substantial shareholder ups stake to 7.07%

Silchester, on Aug 13, bought 243,700 shares from the market for a total of $3.4 million or $13.897 per share.

Broker's Calls

RHB upgrades Venture Corp to ‘buy’ as it anticipates recovery moving into FY2025

"We think Venture Corp is seeing the tail-end of its customers’ destocking phase," says analyst Alfie Yeo.

Broker's Calls

CGS International sees better 2HFY2024 revenue for Venture Corp, keeps target price unchanged

CGS International keeps 'buy' and target price unchanged on Venture Corporation, sees healthy outlook for the remaining FY2024.

Results

Venture Corp reports net profit of $60.1 mil for 1QFY2024, 18.3% lower y-o-y

Revenue for the quarter fell by 18.9% y-o-y to $666.7 million.
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