FRONTKN (0128; HLIB-HOLD-TP RM3.07): Main market; Semiconductor

Frontken is a leading surface engineering service provider in semiconductor and O&G markets. We like its technology leadership (7nm and below) and strong balance sheet (net cash of RM378m or 23.9 sen per share) to support Taiwan and Singapore clientele expansions.

Building a base near200D MA at 3.17. Recent strong close above multiple key Mas could spur greater upside towards 3.40-3.70 zones

✅Current price: RM3.31

✅Entry: RM3.10-3.20-3.31

✅Stop Loss: RM3.07

✅Resistance: RM3.40-3.54-3.72

✅fy12/2024E P/E: 32.3x

✅Risk profile: Medium

Source: Hong Leong Investment Bank Research - 21 Nov 2023