0238 GMT - Grand Venture Technology stands to benefit from its front-end semiconductor strategy, DBS Group Research analysts say in a research report. The manufacturing solutions and services provider previously onboarded front-end semiconductor clients in areas such as metrology, the analysts note. Major opportunities loom for the Singapore-listed company as its foray into the front-end space opens up a long runway for growth, especially in the wafer fabrication equipment market, the analysts add. DBS raises the stock's target price to S$1.04 from S$0.70 based on 21X estimated 2026 earnings to reflect more meaningful volume production for new front-end clients. Shares are 2.9% higher at S$0.885. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 06, 2025 21:39 ET (02:39 GMT)
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