VentureCorp: CLSA restarts at Buy with $11.30 TP based on 14x P/E. Note that contract electronics manufacturer's focus on wider-margin businesses, such as product planning and design, differentiate it from peers, while its diverse portfolio of more than 5,000 products have shielded it from commoditisation and ASP declines…
Notes Venture's strategy has always been to deepen engagement with existing customers by increasing number of products, processes it undertakes. Tips Company as potential takeover target for Asian electronic manufacturing services companies like Hon Hai Precision…
We note that Street so far has a Unanimous Buy Call for Venture, after grp posting 3Q FY10 results. UBS (TP $10.50), CS (TP $10.75), Daiwa (TP $10.25), Nomura (TP $11.50), CIMB (TP $11.9 and DBSV (TP $11.80)….
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