Aztech has recently gotten its new plant at Pasir Gudang running and Seet, in his Oct 31 note, indicates that the new capacity can help the compay lift its margins for the coming FY2024.
Following "solid" 3QFY2023 earnings and with margins seen to improve, Jarick Seet of Maybank Securities has maintained his "buy" call but with a higher target price of $1.08 from 93 cents.
For the three months to Sept 30, Aztech Global (SGX:8AZ
) reported earnings of $30.9 million, up 48.6% y-o-y. Reenue in the same period was up 16.9% y-o-y to $283.45 million.
