0315 GMT - Aztech Global's earnings outlook appears weaker, DBS Group Research's Lee Keng Ling says in a research report, citing its disappointing 3Q results. Order momentum of the manufacturer of Internet of Things devices and other products appears to be softening. The company secured order book of S$142 million as of Oct. 1, down from S$304 million as of July 30, the analyst notes. With order momentum slowing for its key customer, Aztech Global's net margins could decline to around 8%, DBS says. The bank cuts its 2024 and 2025 earnings forecasts for the company by 41% and 61%, respectively. It lowers the stock's rating to fully valued from buy and cuts the target to S$0.63 from S$1.27. Shares closed at S$0.755 on Wednesday. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
October 30, 2024 23:15 ET (03:15 GMT)
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