DBS Group Research has kept its "buy" call and $1.12 target price on Grand Venture Technology after the manufacturer reaffirmed its 1HFY2025 revenue guidance amid wider sell-down of tech stocks.

According to GVT, US exposure accounted for less than 10% of its revenue and that the bulk of its output is shipped from Singapore, which is hit with the baseline 10% tariff that is lower than other regional markets. 

The bulk of GVT's end demand comes from semiconductor, life sciences and aerospace customers in the rest of Asia and Europe.