On Aug 6, KGI Securities also initiated an “outperform” call on ISDN with a 42 cents target price, and expected earnings to increase by some 64%.
Shares in ISDN Holdings surged some 8.22% today to close at 40 cents, just before the group announced a 72.5% increase in its 1H20 earnings to $9.6 million from $5.2 million in 1H19, which surpassed its positive profit alert announced on June 28.
With most companies warning of a loss in their upcoming results, ISDN broke the trend and informed investors that it expected to record an earnings growth of at least 50% for 1H20.
