An expected improvement in Frencken Group's earnings growth is likely pushed back to 2H 2025, OCBC Investment Research's Donavan Tan says in a report. OCBC lowers the stock's fair value estimate to S$1.42 from S$1.74. OCBC's examination of Frencken Group's supply chain and key clients as well as guidance from management suggests that expected growth in Frencken Group's semiconductor business will probably materialize in late 2H 2025. The company's efforts for contracting new production initiatives by leveraging its key capabilities position it well to ride the recovery and growth of its various segments, the analyst says. OCBC remains confident in the company's long-term prospects, and maintains a buy rating on the stock. Shares are unchanged at S$1.21. (ronnie.harui@wsj.com)
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