Broker’s take: CGS-CIMB says ISDN on track to post record fiscal 2020 earnings, Companies & Markets

Thu, Jan 07, 2021 – 4:12 PM

CGS-CIMB has raised its goal value for ISDN Holdings to 72 Singapore cents from 64.8 cents on higher income prospects.

It reiterates “add” on the inventory and stated the built-in engineering answer supplier is on observe to report a five-year record-high income and web revenue for fiscal 2020 regardless of the Covid-19 pandemic.

ISDN shares rose as a lot as 23.3 per cent or 10 cents to hit 53 cents in intra-day buying and selling on Thursday, with 44 million shares altering fingers as at 3.39pm. The final time the counter traded close to this degree was on Feb 18, 2014.

CGS-CIMB analyst William Tng stated in a analysis be aware on Wednesday that ISDN’s demand outlook is stronger than beforehand anticipated, therefore the revised forecasts which led to a better goal value.

“Given stronger demand prospects, we increase our FY2020-2022 earnings per share forecasts by 10.9-13.7 per cent,” he stated.

CGS-CIMB additionally sees rerating catalysts from ISDN’s fiscal 2020 outcomes, in addition to doable monetisation of its Indonesian hydropower enterprise in 2021.

Potential rerating catalysts may come from stronger-than-expected gross sales orders for its mainstay industrial automation enterprise and revenue contribution from its hydropower section.

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