0303 GMT - Aztech Global's near-term outlook appears subdued, DBS Group Research's Lee Keng Ling says in a research report. Management expects customer demand to stay soft in 2H, with contributions from new projects unlikely to fully offset weaker orders from existing customers, the analyst notes. Gradual ramp-up of the technology company's new-product-introduction pipeline, together with competitive pressures, FX volatility, cost inflation and limited demand visibility, are expected to weigh on revenue growth and margins in near term. DBS downgrades the stock's rating to fully valued from hold and lowers the target price to 0.66 Singapore dollar from 0.93 Singapore dollar. Shares are 2.8% lower at 0.69 Singapore dollar.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.