“We have trimmed revenue by 6%, and the net margin assumption for FY2022 to 23.6% from 24.2% previously. Earnings for FY2022 and FY2023 are now expected to grow 13% and 19% respectively,” Ling writes.
DBS Research analyst Ling Lee Keng has maintained her “buy” call for Nanofilm Technologies with a lower target price (TP) of $3.21 from $3.70 previously, as she trims the company’s forecasted earnings for FY2022 and FY2023 by 7% and 6% respectively.
The lowered earnings forecast comes on the back of the persistent margin pressure and weak consumer sentiment.
