0236 GMT - Frencken Group's semiconductor segment is likely to be its main growth driver, Maybank Securities analyst Jarick Seet writes in a note. The technology solutions provider's management expects its semiconductor sales to increase in 1H, especially in Asia, Seet says. Frencken's 1Q profit after tax and minority interests rose 12% on year to S$10.0 million, driven by a 34% on year increase in its semiconductor segment's revenue, Seet notes. Maybank likes the stock and believes it will remain a key beneficiary of the semiconductor industry recovery. It maintains a buy rating and target price of S$1.34 on the stock. Shares are flat at S$1.14.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
May 22, 2025 22:36 ET (02:36 GMT)
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