John Cheong, an analyst from UOB Kay Hian, maintained the Buy rating on CSE Global (CSYJF – Research Report). The associated price target was raised to S$0.61.
John Cheong has given his Buy rating due to a combination of factors that highlight CSE Global’s strong financial performance and strategic growth initiatives. The company’s 2024 earnings significantly exceeded expectations, with a net profit of S$26 million, marking a 17% year-over-year increase. This impressive performance was driven by higher-than-expected margins and a 63% surge in core profit, excluding a one-off settlement, supported by robust revenue growth and improved operating leverage.
Furthermore, CSE Global’s management has strategically reduced the final dividend to reinvest in long-term growth opportunities, particularly focusing on the electrification and communication segments. The company’s order book remains healthy, with a 6% quarter-over-quarter increase, indicating sustained order win momentum. Additionally, CSE Global has demonstrated continued revenue growth across all its segments, with notable contributions from electrification and automation, further reinforcing the company’s expansion potential. These factors collectively underpin John Cheong’s positive outlook and Buy rating for CSE Global.
According to TipRanks, Cheong is ranked #1514 out of 9385 analysts.