To recap, CEI’s FY16 revenue fell 1.6% on-year due to the weakening of the O&G industry over 2016, largely due to a customer in the O&G industry that accounted for about 10% of the group’s sales.
SINGAPORE (Feb 14): CIMB Research is maintaining its “add” recommendation on CEI, raising its target price to $1.11 from $1.04 previously as the research house rolls over to FY18F.
The group serves customers across market segments including the oil and gas (O&G), aviation, semi-conductor and medical equipment industries.
