KGI Securities has initiated InnoTek at “outperform” with a target price of 73 cents based on the company’s 0.5x EV/EBITDA, a slight discount to its fellow SGX-listed manufacturing service companies.
KGI analyst Kenny Tan believe that the company will enjoy a stable outlook that is supported by demand from China for its automotive business. The company is also expected to see its business recover to its pre-pandemic levels.
