News Snapshot:
Analysts are upbeat on ViTrox Corp Bhd's prospects going forward, backed by insatiable demand for its products. Hong Leong Investment Bank (HLIB) Research raised its target price (TP) for ViTrox to RM17.95, from RM16.88, after lifting its price-to-earnings (P/E) multiple from 45 times to 48 times pegged at financial year ending Dec 31, 2022 (FY22) earnings per share (EPS). The research firm opined that global contract manufacturers’ (CM/EMS) large-scale relocation, expansion and order diversion activities will create insatiable demand for the company's products. Furthermore, HLIB analyst Tan J Young said in a note today that ViTrox’s technology leadership and asset-light...
