Not vested. From CIMb:-
PE 17; EPS growth -14% last year to +30% forward ?
Expect good yoy growth
Maintain OUTPERFORM. We expect Venture’s core earnings to make a more meaningful recovery, underpinned by a broad-based improvement in its business, including HP’s ODM printer projects.
We leave our FY10-12 profit forecasts intact ahead of its 3Q10 results announcement (after market on 29 Oct). However, we have raised our target price from S$10.91 to S$11.98 as we roll forward our 14x CY11 P/E
to CY12.
This is still based on the lower end of its 10-year historical average in view of its slower earnings-growth prospects.
( Winston: Are they growing at their 10 year historical average over the past few years ? )
We expect catalysts to come from:
1) a continuous recovery of its earnings
2) sustainable decent dividend yields.
http://www.remisiers.org/cms_images/Venture-2810101.pdf