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UOBKH raises InnoTek target price on China' s shift towards EVs
UOB Kay Hian (UOBKH) has raised its target price for InnoTek to S$1.20 from S$0.82 previously while maintaining its " buy" call.
In a Monday report, the brokerage noted that China' s auto industry is shifting towards electric vehicles (EVs), with sales likely to increase 80 per cent year on year to reach two million units in 2021. This will likely benefit Innotek, which gets more than 30 per cent of its annual revenue from China and also serves EV manufacturers through its precision metal components division.
Moving beyond single-part manufacturing, the mainboard-listed company has also secured initial orders for parts assembly to deepen its value proposition and establish its foothold within the segment.
According to analyst John Cheong, InnoTek is set to benefit from strong recovery of auto sales in China, which has reached pre-Covid-19 levels, and expected recovery of office automation (OA) demand in Thailand, where the company has established an OA factory.
UOBKH is also optimistic on InnoTek for its strong balance sheet. According to the brokerage, the manufacturing company is in a net cash position which represents about 44 per cent of its market cap. It has also been paying out an increasing dividend per share, which reached S$0.02 last year.
The brokerage forecasts InnoTek' s earnings per share to grow by 39 per cent year on year in 2021.
InnoTek (INNOT SP)
Beneficiary Of Strong Growth In China&rsquo s Auto Sales And The EV Industry InnoTek is set to benefit from the strong growth in China&rsquo s auto sales in 2021 and the high-growth EV industry as it has started serving EV manufacturers. The China Association of Automobile Manufacturers (CAAM) estimates that passenger vehicle sales grew by 74% yoy in 1Q21 due to a strong recovery in demand. We expect Innotek&rsquo s EPS to grow by 39% yoy in 2021. We raise our target price by 46% to S$1.20 (12x 2022 EPS). Innotek currently trades at only 5x ex-cash 2022 PE.
Beneficiary Of Strong Growth In China&rsquo s Auto Sales And The EV Industry InnoTek is set to benefit from the strong growth in China&rsquo s auto sales in 2021 and the high-growth EV industry as it has started serving EV manufacturers. The China Association of Automobile Manufacturers (CAAM) estimates that passenger vehicle sales grew by 74% yoy in 1Q21 due to a strong recovery in demand. We expect Innotek&rsquo s EPS to grow by 39% yoy in 2021. We raise our target price by 46% to S$1.20 (12x 2022 EPS). Innotek currently trades at only 5x ex-cash 2022 PE.
take another breather for another sprint later? :)
The march towards $0.95 continues before advancing to the $1 level. Another level of play if it cross $1
SmallSmall ( Date: 14-Apr-2021 10:08) Posted:
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wow! another gem spotted!
Mark my eords. This stock has broken out of all resistance. It will moves towards the $1.20 - $1.50 level just like Frecken and UMS.
All of these stocks have a typical trend
All of these stocks have a typical trend
Breakout 0.76?
https://www.investor-one.com/editorial/12949-Company-Insights-Featuring-SBS-Transit-Limited-and-InnoTek-Limited
Webinar video at the 27.30 mins mark takes about Innotek.
Higher Auto and TV Orders Help Lift InnoTek 2H&rsquo 20 Net Profit 13.5% to S$10.1 Million Despite Pandemic
Dividend of 2.0 Singapore Cents Per Share Proposed For FY2020
Dividend of 2.0 Singapore Cents Per Share Proposed For FY2020
2 cents dividend vs 1.5 cents last year.
$1
Relax...kopi time. This one is worth a lot more.
nice climb today!
Shorts in hot soup....
STRATEGY &ndash SINGAPORE (target price of $0.81 for Innotek and $1.08 for GHY)
Alpha Picks: Strong Outperformance Add In GHY And InnoTek
Our portfolio gained 5.7% mom in Jan 21, outpacing the FSSTI&rsquo s gain of 2.1% mom. Notable outperformers include First Resources (+21.1% mom), Thai Beverage (+12.2% mom), Sunpower (+11.3% mom) and Food Empire (+9.8% mom). For Feb 21, we add in GHY and InnoTek while removing Sunpower, Frencken and Venture. WHAT&rsquo S NEW &bull Strong outperformance in Jan 21. Our portfolio rose 5.7% mom in Jan 21 vs the FSSTI&rsquo s more moderate gain of 2.1% mom. With the exception of Far East Hospitality Trust (-4.8% mom), the rest of our picks performed better than the FSSTI. Notable outperformers include First Resources (+21.1% mom), Thai Beverage (+12.2% mom), Sunpower (+11.3% mom) and Food Empire (+9.8% mom). &bull Adding GHY and InnoTek. We add newly-initiated G.H.Y Culture & Media(GHY) to our portfolio given its sizeable production pipeline and attractive valuation. Trading at 12.3x 2021F PE (vs peers&rsquo 18.5x 2021F PE) and only up 9.1% from its listing price of S$0.66, the high-quality drama and concert production company is underappreciated by the market, in our view. For InnoTek, we believe the group is set to benefit from China&rsquo s recovery in auto sales which historically accounts for 30% of its annual revenue. Furthermore, the stock trades at an undemanding valuation of 7.8x 2021F PE (3.8x ex cash), a laggard compared to the sector average of 13.4x 2021F PE.
Alpha Picks: Strong Outperformance Add In GHY And InnoTek
Our portfolio gained 5.7% mom in Jan 21, outpacing the FSSTI&rsquo s gain of 2.1% mom. Notable outperformers include First Resources (+21.1% mom), Thai Beverage (+12.2% mom), Sunpower (+11.3% mom) and Food Empire (+9.8% mom). For Feb 21, we add in GHY and InnoTek while removing Sunpower, Frencken and Venture. WHAT&rsquo S NEW &bull Strong outperformance in Jan 21. Our portfolio rose 5.7% mom in Jan 21 vs the FSSTI&rsquo s more moderate gain of 2.1% mom. With the exception of Far East Hospitality Trust (-4.8% mom), the rest of our picks performed better than the FSSTI. Notable outperformers include First Resources (+21.1% mom), Thai Beverage (+12.2% mom), Sunpower (+11.3% mom) and Food Empire (+9.8% mom). &bull Adding GHY and InnoTek. We add newly-initiated G.H.Y Culture & Media(GHY) to our portfolio given its sizeable production pipeline and attractive valuation. Trading at 12.3x 2021F PE (vs peers&rsquo 18.5x 2021F PE) and only up 9.1% from its listing price of S$0.66, the high-quality drama and concert production company is underappreciated by the market, in our view. For InnoTek, we believe the group is set to benefit from China&rsquo s recovery in auto sales which historically accounts for 30% of its annual revenue. Furthermore, the stock trades at an undemanding valuation of 7.8x 2021F PE (3.8x ex cash), a laggard compared to the sector average of 13.4x 2021F PE.
Promising, to say the least. No debt, 33 cents per share cash backing, excellent mgmt proven in the last 3-4 years, alignment of mgmt interest with small shareholders, growth potential... No guess for TP in the current environment - leave it to Mkt's imaginations
New high established. Uncharted share now..... High goes higher :)
wow!!!
fast and fierce..
Breakout soon!