Venture

Venture: CLSA reinitiates at Buy with $11.30 target, based on 5-yr avg P/E of 14x. Likes electronics contract mnftr’s long track record, and sustained avg decade-long 3.7 ppt operating margin premium over its peers. Says completion of CDO write downs, exit of HP’s narrow margin pdt-configuration business paves the way for a fresh start and new phase of growth in revenue, profits. Notes co’s 5.3% div yield accentuates its defensive nature.