On that, Ling has upgraded her recommendation on Venture Corp to “buy” from “hold” with a higher target price of $20.70 from $15.90 previously. The target price is currently the highest “on the street”, and that the current share price has already surpassed the most bullish target price predicted.
Before the release of Venture Corp’s 2Q2020 results on August 7, DBS Group Research analyst Ling Lee Keng is optimistic that the ‘worst could be over’ for the company due to recovering supply chains close to recovering to their pre-Covid levels.
The optimism also comes based on the recently-released results from industry leaders.
