ISDN, as Tng observed in his Feb 11 note, has been expanding its presence in Malaysia and Taiwan.
CGS International (CGSI) analyst William Tng has upgraded ISDN Holdings (SGX:I07
) from “hold” to “add”, along with a higher target price of 35 cents from 28 cents, as he expects the company to report better FY2024 numbers.
Citing the management, Tng notes that demand in typically cyclical industries stabilised in the earlier 1HFY2024 ended June 30. This has helped inspire cautious optimism that the industrial downcycle could be ending and recovery impending.
