SAC lifts Megachem Limited's TP to 55 cents on the back of record 1H21 results

SAC Capital analyst Lam Wang Kwan has kept “buy” on Megachem Limited with a higher target price of 55 cents from 50 cents previously on the back of its record results for the 1HFY2021 ended June.

For the half-year period, Megachem’s earnings grew by 39.7% y-o-y to $3.8 million, while revenue increased 26.7% y-o-y to $65.9 million.