CIMB's analysis suggests that Genetec's recent share price correction can be attributed to apprehensions regarding a potential slowdown in

the electric vehicle (EV) sector. 

After conducting a scenario analysis on EV revenue growth assumptions, CIMB have determined that current valuations may be overly discounting a significant reduction in orders.

Despite these concerns, CIMB maintain a positive outlook and recommend BUY with an unchanged target price of RM3.60.