Maybank IB Research has a Buy call on the counter with a 12-month target price of RM7.20.
The automated vision inspection equipment maker saw its Q1 FY17 service income grow 35% on-year to RM7.2mil, representing 10% of group revenue.
It added that ViTrox’ bundling of its V-One services (live syncing of equipment for analytics) will likely reap subscription fees (currently free) from its customers once adoption reaches a meaningful volume.
This, it said, set the stage for higher recurring earnings to smoothen out on-quarter volatility in equipment sales.
With core expertise in X-ray inspection, the research house said ViTrox was arguably one of a handful of equipment players with leading technology beyond its time which will reap the benefits of its R&D going forward.
“Despite concerns of on-going competition globally, the overall sector is still going through a structural change whereby inspection automation will replace human labour, no longer effective in carrying out inspection of tiny components.
“ViTrox’s visibility should extend beyond the near-term order backlogs,” it added.
Read more at http://www.thestar.com.my/business/business-news/2017/05/22/vitrox-corp-may-see-highest-ever-revenue-in-q2/
Ooi Kak Hwa: The share market will be extremely bullish!
Goreng Goreng Goreng.....
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