For the current FY2023 and coming FY2024, Seet has cut his earnings estimates for Venture by 10.3% and 10.2% respectively. He has also lowered his valuation multiple from 16x to 15x, leading to a revised target price of $17.32, down from $20.20.
Maybank Securities analyst Jarick Seet has downgraded Venture Corporation (SGX:V03
) to “hold” from “buy”, citing a darkening global economic outlook which will result in what the company’s own management calls a “challenging year”.
In contrast, Seet prefers Aztech Global, which benefits from “strong orders” from an unnamed key customer. He rates the counter a “buy” and has a price target of $1.02.
