On this, the analyst has kept her target price unchanged at $3.42. However, she has raised her FY2023 earnings forecast by 12% with revenue growth of 10% for the same year, while assuming lower gross margins of 52.0% and net margins of 22.7% amid continued inflationary pressures.
DBS Group Research analyst Ling Lee Keng has kept a “hold” rating on Micro-Mechanics Holdings (MMH) as the group’s FY2022 revenue reached a new record of $82.5 million, up 12% y-o-y.
The group’s revenue stood in line with Ling’s expectations, while MMH’s net profit stood above expectations by 13%. This was driven by tight control on overhead expenses.
