Broker: CGS International
Date of Report: April 30, 2026
Excerpt from CGS International report
Report Summary
- Stock: Venture Corporation (VMS SP)
- Action: ADD (Buy); Rating unchanged
- Target Price: S\$21.78 (previously S\$17.04)
- Current Price: S\$16.27
- Upside: 33.9%
- Key Idea: Venture’s earnings could bottom in 1Q26F at S\$54.1m, with a recovery expected in 2H26F as customer orders return. The stock could re-rate to 23x FY27F P/E, driven by the EQDP-driven liquidity rally and stronger fundamentals.
- Highlights:
- Management remains optimistic for FY26F with new product wins, market share gains, and expansion in multiple technology domains, including data centres and semiconductor equipment.
- FY26-28F EPS growth is forecast at 8% CAGR, supported by recovery in Test & Measurement and Lifestyle Consumer segments.
- Downside risks include supply chain issues and global economic uncertainty.
- Implication: The report recommends investors ADD Venture, expecting a recovery-led re-rating. Key catalysts include new product launches and customer diversification. Investors should be mindful of customer concentration and supply chain risks.
above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website : https://www.cgs-cimb.com
