John Cheong and Heidi Mo of UOB Kay Hian downgraded their call on Aztech Global to "sell" from "hold", along with a target price of 46 cents from 65 cents previously, after the company's 1QFY2025 earnings that fell short of their expectations.
Aztech Global shares dropped after reporting weaker-than-expected 1QFY2025 results yesterday, prompting analysts to downgrade or give a bearish view on this stock.
For the quarter to March, Aztech reported earnings of $1.5 million, down 90.6% y-o-y, on the back of a 67.3% drop in revenue, as new customer wins were not enough to offset the decline from its key customer.
