In his June 8 report, Seet noted that Valuetronics had just come off an expectedly tough FY2022 ended March, with revenue and Patmi falling 11.1% and 39.3% y-o-y to HK$2.03 billion ($355.5 million) and HK$113.5 million respectively.
RHB Group Research analyst Jarick Seet has upgraded his recommendation on Valuetronics to “neutral” from “sell” after deeming the company’s worst times to be over.
Seet has also upped his target price to 53 cents from 51 cents previously.
