COVID–19 NEWS   COVID-19: Over 1.1 million kids in Malaysia fully vaccinated | MOH does not plan to extend PICKids | COVID : 30.4 pct of children in Malaysia fully vaccinated | N Korea reports one additional death amid COVID-19 outbreak | S Korea to resume issuing short-term travel visas, e-visas next month | 
BUSINESS

Maybank IB raises Greatech target price to RM8.45, maintains 'buy' rating

26/01/2022 11:16 AM

KUALA LUMPUR, Jan 26  -- Maybank Investment Bank (IB) has raised its target price (TP) for Greatech Technology Bhd’s (Greatech) shares for financial year 2022 (FY22) to RM8.45 per unit from RM8.05 previously, while maintaining its 'buy' rating for the company’s shares.

In its research note today, it said this is premised on favourable prospects from Greatech’s customers in key growth industries, thus it believes that the valuations for the stock are undemanding and represents deep-value at prevailing prices.

“We have introduced estimates for FY24 and raised our core earnings estimates for the company’s FY22 and FY23 by 23 per cent and 31 per cent, respectively, underpinned by robust demand and the ongoing capacity expansion at its BK III (to be operational by mid-2022) and BK IV plants,” it said.

The research firm said with the new orders the company had recently secured for production line systems worth RM160 million, Greatech is on course to add a further RM568 million to its burgeoning orderbook in FY22. 

In a recent filing with Bursa Malaysia, the leading automation solutions provider in the field of factory automation said it expects positive development in the solar sector in 2022 and 2023, with the opportunities presented by worldwide green initiatives and increased usage of renewable energy. 

The company expects the orders to contribute positively to the group’s revenue in 2022 and 2023.

At 10.44 am, Greatech’s share price was one sen higher at RM4.81 with 1.88 million shares traded. 

-- BERNAMA

 

 


Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy