"The upward revision reflects stronger profitability that will be driven by the continued execution of its existing order book," states Yon in his Feb 17 note.
Nicholas Yon of Lim & Tan has reiterated his "buy" call on Oiltek International (SGX:HQU
) , following higher-than-expected 2HFY2024 earnings that grew by 57.8% y-o-y to RM19.4 million.
With expectations of better earnings growth ahead, he has raised his target price from $1.21 to $1.50, which is based on 20x FY2025 earnings.
