In his Jan 21 note, he revises his FY2024 earnings from $9.2 million to $5.7 million, citing delays in both its startup sites in India and Vietnam.
CGS International (CGSI) analyst William Tng has reduced his earnings projections for Nanofilm Technologies’ FY2024 results, on expectations that the company will incur higher start-up costs at its new operating sites, leading to a lower target price of 63 cents from 70 cents previously.
Tng believes that the Bloomberg consensus’ FY2024 net profit expectation of $11.4 million is “too high”.
