0652 GMT - Frencken Group remains an add call to CGS International on two tailwinds, the brokerage's William Tng says in a research report. The analyst cites management's guidance for a strong recovery in the manufacturing solutions provider's semiconductor business over 2027-2028 and buying support for its shares from Singapore's Equity Market Development Programme. The company is also likely to post 8.8% EPS CAGR over 2025-2028 with potential for higher earnings in 2027-2028 if demand in its semiconductor segment remains strong. However, the brokerage lowers the stock's target price to 2.93 Singapore dollars from S$3.25 to factor in the company's proposed new share placement. Shares are 0.85% lower at S$2.33.
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