Brokers' take
Avi-Tech Electronics | Buy Target price: S$0.59 Aug 21 close: S$0.47 RHB Research, Aug 21
Avi-Tech enjoyed a strong Q4 FY17, with net profit after tax surging 62 per cent year-on-year. A special dividend of SGD0.008 was also announced, bringing total FY17 dividend to SGD0.028, representing an attractive yield of 6 per cent. We came away from the briefing still positive on its long-term growth, which would likely come from electric cars and increased electronics in the automotive sector. We also think that there is a high possibility it would likely acquire an accretive target in the near term. As a result, we roll over our discounted cash flow-based target price to a slightly higher S$0.59 (from S$0.52, 26 per cent upside), representing a 12 times FY18 forecast price-earnings ratio.
Q&M Dental Group | Neutral Target price: S$0.61 Aug 21 close: S$0.645 Phillip Securities Research, Aug 21
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