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.
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