UMS Holdings, now known as UMS Integration, reported 3QFY2024 earnings of $10.4 million, 32% lower y-o-y but 11.5% higher q-o-q.
Analysts from Maybank Securities and UOB Kay Hian have upgraded their calls on UMS Holdings (SGX:558
) to “hold” from “sell” even though the company’s results for the 3QFY2024 ended Sept 30 came in below consensus estimates.
“The outlook [for UMS] is still cloudy, but [we] upgrade [UMS] to ‘hold’ as earnings have likely bottomed,” says Maybank analyst Jarick Seet.
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