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CGS-CIMB initiates coverage on Hi-P with 'hold'; flags growth opportunities via M&A

Published Wed, Sep 9, 2020 · 09:50 PM

Singapore

CGS-CIMB has initiated coverage on contract manufacturer Hi-P International with a "hold" recommendation and a target price of S$1.23.

The counter closed at S$1.17 on Wednesday, down S$0.01 or 0.9 per cent.

"Given its net cash balance sheet (of S$197 million) as at end June 2020, mergers and acquisitions can provide Hi-P with growth opportuniti…

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