Seet, who calls Frencken his top pick in the Singapore tech space, expects orders to increase by 30% from a key European customer in 1HFY2025, followed by a US customer in the second half.
Maybank Securities analyst Jarick Seet has kept his “buy” call on Frencken Group (SGX:E28
) with a raised target price of $1.34 from $1.20, with indications of bigger order volume from its customers riding the recovery of the semiconductor sector.
Seet’s new target price is based on a blended 12x FY2025 and FY2026 earnings instead of just 12x FY2025, earnings, to standardise his valuation methodology across Singapore’s semiconductor players.
