DNEX is the Best

CGS-CIMB DNEX Result Note -- Chip pick-me-up, target price RM1.60

DNEX_THE_BEST
Publish date: Fri, 25 Feb 2022, 11:06 AM
DNEX is the Best

1HFY6/22 results were in line at 51%/52% of our/consensus FY22F net profit forecasts. The group declared an interim DPS of 0.6 sen in 2QFY22.

We project stronger earnings delivery in 2HFY22F, in view of resilient demand for semiconductor chips and higher average crude oil prices.

Reiterate Add, with an unchanged RM1.60 SOP-based TP

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