"Frencken remains exposed to ASML, which is a strong beneficiary of the semiconductor equipment sector’s growth," says Yeo, citing forecasts of 8% CAGR between 2025-2027 by industry association SEMI.
Alfie Yeo of RHB Bank Singapore has kept his "buy" call and raised his target price for Frencken Group to $2.03 from $1.66, as he turns more bullish on this counter with a more "robust growth outlook, strong economic fundamentals in Malaysia and Singapore".
And of course, its key customer in the semiconductor space, ASML, is seeing "firm" 2026 growth, notes Yeo in his Feb 6 note.
