In a report last Wednesday, analyst Ling Lee Keng says she continues to like Silverlake for being a market leader in the core banking solutions space, where over 40% of the top 20 largest banks in the region that outsource their core banking solutions are customers of Silverlake.
SINGAPORE (May 24): DBS Vickers Securities is maintaining “buy” on Silverlake Axis while raising its target price on the stock by 1 cent to $0.63, which is derived from the peer average of 21 times FY19F P/E based on the group’s FY Jun 20F earnings after assuming slightly higher gross margins.
This comes post the group’s latest release of its 3Q19 and 9M19 results, which saw key segments registering revenue growth with 9M19 revenue and net profit jumping 23% and 82%, respectively.
