In an Oct 25 note, Tng has kept his “reduce” rating on GVT with a target price of 40 cents, forecasting that its net profit will decline 31.9% y-o-y.
CGS-CIMB Research analyst William Tng is of the opinion that most of the semiconductor-related companies on the Singapore Exchange (SGX) are well placed to weather the current semicon downturn.
However, this sentiment does not apply to Grand Venture Technology (GVT), saying that it could see the largest net profit decline among the companies that Tng covers for the 3QFY2022 ended September.
