0151 GMT - Frencken Group's likely revenue growth in 1H, driven by its semiconductor and medical segments, may outperform the industry, UOB Kay Hian's John Cheong says in a research report. The technology solutions provider has a cautiously optimistic stance and expects moderate revenue growth in 1H 2025 versus 2H 2024, the analyst notes. The Singapore-listed company also doesn't expect significant impact from U.S. tariffs, given shipments to the U.S. accounted for only around 9% of its revenue in 2024. The brokerage lifts its price-to-earnings multiple peg to 15x from 12.5x to reflect Frencken's ability to outperform peers. It raises the stock's target price to S$1.40 from S$1.16 with an unchanged buy rating. Shares are unchanged at S$1.13. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 25, 2025 21:51 ET (01:51 GMT)
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