"The escalation in the trade war between the US and its trading partners is, in our view, likely to have a negative impact on Venture’s FY2035 earnings.
William Tng of CGS International has downgraded Venture Corp to "hold" from "add", along with a reduced target price of $10.13 from $14.95, as the manufacturer is likely to report another year of earnings decline no thanks to the trade war.
In his April 8 note, Tng estimates that 82% of Venture’s production capacity is based in Malaysia, an economy that has been hit with a 24% tariff.
