In a Tuesday report, analyst Jarick Seet notes a case of strong insider buying given Venture CEO Wong Ngit Liong’s multiple instances of purchasing the group’s shares in the open market in recent months, which the analyst believes is a testament of the company’s solid fundamentals and anticipated robust results ahead.
SINGAPORE (Sept 26): RHB Research is maintaining its “buy” call on Venture Corporation on expectations of a sequential improvement in the group’s upcoming 3Q17 results, while lifting its target price estimate to $19.70 from $14.70 previously.
The research house has raised its FY17F-18F PATMI forecasts by 10%, with its latest target price implying a FY18F P/E of 19 times.
