“We believe normalcy has returned to its China factories since Jan 2023,” the analysts write.
CGS-CIMB’s William Tng and Izabella Tan have maintained their hold call on Nanofilm Technologies International, but with a slightly higher target price of $1.39 from $1.37 earlier, as China’s re-opening might lead to a potential re-rating of the stock.
As described by Tng and Tan in their Jan 16 note, Nanofilm’s operations in 4QFY2022 ended Dec have been hurt by China’s abrupt re-opening recently as Covid-19 cases increased.
