Excess inventories ordered by Aztech's key customers accumulated during the pandemic is not helping too, he adds.
William Tng of CGS International has reiterated his "reduce" call and 41 cents target price for Aztech Global (SGX:8AZ
) , as he believes the outlook for the rest of this year remains weak for the company.
US consumers, according to Tng, are in a cautious mood due to the trade war and general concerns over their economy.
