“We note that AEM announced on March 2 that purchase orders to be recognised in FY17 could reach $130 million, which makes our $138 million revenue target an easy beat if new purchase orders are received during FY17F. It would also be easy for the company to record y-o-y earnings growth in FY17F given the low base in FY16,” says analyst William Tng in a report last Friday.
SINGAPORE (March 27): CIMB Research is maintaining its “add” recommendation on AEM Holdings with an unchanged target price of $2.69, highlighting the counter as a one that is “counter cyclical for sure” in the present financial year.
(See also: Could this be the year for AEM Holdings?)
