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$1 today or next week should be no issue...
pcxiao2008 ( Date: 24-May-2021 09:41) Posted:
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wow..reaching my TP
InnoTek poised to leverage China EV push: KGI
KGI Securities has raised its target price for InnoTek Limited to S$1.12 from S$0.73 previously with an unchanged " outperform" rating, after hiking its valuation on the stock and rolling forward estimates to base them on FY2022 projections.
The new target price is pegged to 5.5 times EV/Ebitda (enterprise value/earnings before interest, taxes, depreciation and amortisation) and translates to around 14.3 times FY2022 price-to-earnings (P/E) - bringing InnoTek more in line with its listed peers.
Hailing the group' s latest set of FY2020 results as " another show of resilience" , analyst Kenny Tan highlighted in a Friday report that the group' s management had communicated strong expectations for its automotive division through its annual report and recent annual general meeting.
" InnoTek' s management has highlighted their focus on the automotive business, behind a returning momentum of China auto sales&hellip (The group) has managed to secure customers in the electric vehicle (EV) space and can reasonably expect the automotive division to become their largest division in subsequent years," said Mr Tan.
Further, InnoTek&rsquo s Q1 unaudited results presented at its 29 April AGM showed that sales were up 25 per cent on-year at S$42.3 million to indicate a net profit of S$2.5 million for the quarter. Mr Tan considers these results " promising" , as the figures fall within range of KGI' s improved FY2021 estimates for InnoTek.
Noting that Q1 sales typically account for 22-24 per cent of fiscal year results due to seasonality effects, the analyst is expecting H2 FY2021 to produce the bulk of full-year results as raw material prices come under better control and the semiconductor shortage clears.
As such, Mr Tan has raised sale forecasts across all three of InnoTek' s divisions such that his overall FY2021-2023 sales growth forecasts stand at 6.7 per cent, 4.3 per cent, and 3.6 per cent respectively.
Downside risks to KGI' s view include the potential worsening of Covid-19 which may disrupt working conditions within the industry.
" Semiconductor shortage can possibly lead to some order pushbacks across InnoTek' s 3 divisions, dampening H1 FY2021 results. Rising raw
Can hit $1 on Monday?
Innotek or Jiutian? hmm...both with good earnings and capturing China EV boom
Cld see $1 next week or early June
dyodd
dyodd
pcxiao2008 ( Date: 21-May-2021 16:03) Posted:
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slowly and steady...next gem!
Wonderful counter moving up well
i jz added yesterday...din expect the news today...
i am looking at 99c soon but now maybe revised my TP... :P
i am looking at 99c soon but now maybe revised my TP... :P
robinhoot ( Date: 21-May-2021 14:39) Posted:
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KGI raises target price for InnoTek on China EV push, ' promising' Q1 figures
KGI Securities has raised its target price for InnoTek Limited to S$1.12 from S$0.73 previously with an unchanged " outperform" rating, after hiking its valuation on the stock and rolling forward estimates to base them on FY2022 projections.
The new target price is pegged to 5.5 times EV/Ebitda (enterprise value/earnings before interest, taxes, depreciation and amortisation) and translates to around 14.3 times FY2022 price-to-earnings (P/E) - bringing InnoTek more in line with its listed peers.
Hailing the group' s latest set of FY2020 results as " another show of resilience" , analyst Kenny Tan highlighted in a Friday report that the group' s management had communicated strong expectations for its automotive division through its annual report and recent annual general meeting.
" InnoTek' s management has highlighted their focus on the automotive business, behind a returning momentum of China auto sales&hellip (The group) has managed to secure customers in the electric vehicle (EV) space and can reasonably expect the automotive division to become their largest division in subsequent years," said Mr Tan.
Further, InnoTek&rsquo s Q1 unaudited results presented at its 29 April AGM showed that sales were up 25 per cent on-year at S$42.3 million to indicate a net profit of S$2.5 million for the quarter. Mr Tan considers these results " promising" , as the figures fall within range of KGI' s improved FY2021 estimates for InnoTek.
Noting that Q1 sales typically account for 22-24 per cent of fiscal year results due to seasonality effects, the analyst is expecting H2 FY2021 to produce the bulk of full-year results as raw material prices come under better control and the semiconductor shortage clears.
As such, Mr Tan has raised sale forecasts across all three of InnoTek' s divisions such that his overall FY2021-2023 sales growth forecasts stand at 6.7 per cent, 4.3 per cent, and 3.6 per cent respectively.
Downside risks to KGI' s view include the potential worsening of Covid-19 which may disrupt working conditions within the industry.
" Semiconductor shortage can possibly lead to some order pushbacks across InnoTek' s 3 divisions, dampening H1 FY2021 results. Rising raw material costs could also pressure gross margins, foreign exchange risk (and may result in) product obsolescence," cautioned Mr Tan.
As at 10.41am on Friday, shares of InnoTek were trading 0.5 Singapore cent or 0.6 per cent higher at 91 cents.
Time to collect this gem cheap at 0.70-0.80 range next few weeks
by the way is this a pure china play ?
Like all their business revenue comes from china ??
Like all their business revenue comes from china ??
Trading volume at 52 weeks high.
Bought small small play play.
Bought small small play play.
Come out say undervalued! Price quite high now. Sell first take profits.
bishan22 ( Date: 22-Apr-2021 09:40) Posted:
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Supply of electronics chips for automobile are heavily shortaged. How can the car manufacturers built cars without the " heart" ? If they cannot built their cars, then, why they need the car accessories?
Overbotted....
not_98percent ( Date: 21-Apr-2021 20:16) Posted:
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.......... severely over-bought situation. Could be PnD
actan99 ( Date: 21-Apr-2021 16:23) Posted:
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May be can consider Willas-Array. Full year results will be announced on End May 21.
I guess results should be good.
Company pay good dividen.
please do study it and decide
Tks.l
I guess results should be good.
Company pay good dividen.
please do study it and decide
Tks.l
Last time I bought this at 40cent and sold with small profit. Never expect this can go so high.
isit too late to enter now ?