Thu, Nov 26, 2020 - 3:25 PM UOB Kay Hian on Thursday initiated coverage on advanced materials and nanoproducts firm Nanofilm Technologies Intern
Thu, Nov 26, 2020 – 3:25 PM
UOB Kay Hian on Thursday initiated coverage on advanced materials and nanoproducts firm Nanofilm Technologies International with a “buy” call and a target price of S$4.07.
The recently listed stock – the first tech unicorn on Singapore’s bourse – was trading at S$3.34 as at 2.55pm, up S$0.24 or 7.7 per cent, with some 5.6 million shares changing hands.
Nanofilm, which provides blue-chip customers with surface vacuum coating technology solutions, has a “strong competitive advantage and warrants a premium to its peers”, the brokerage wrote.
UOBKH expects to see a robust 38.7 per cent three-year compound annual growth rate (CAGR) for the company’s earnings for 2019 to 2022.
This growth will likely come from a bigger wallet share of existing customers as the mainboard-listed firm aims to become a one-stop solution provider, as well as from the new application of technology, said analysts John Cheong and Joohijit Kaur.
Nanofilm is exploring the application of its technology in other industries such as biomedical, Internet of Things and medical…