Uchi Technologies - Decent 4Q23 Performance May Continue Date: 2024-02-28 Firm: CIMB Stock: UCHITEC Price Target: 4.30 Price Call: HOLD Last Price: 3.97 Upside/Downside: +0.33 (8.31%) 4Q23 came in above expectations due to sustained strong US$ revenue We believe its key customer in the coffee machine industry should anchor 7- We raise FY24-25F EPS by 26-30% following the stronger-than-expected performance. Reiterate Hold, given its defensiveness and 6-7% yields.
Reiterate Hold, with a higher TP of RM4.30 We believe Uchitech’s strong FCF yields in excess of 8% should anchor generous payout levels of c.90%, translating into yields of >6%, the highest in the sector.
Thank you @Stirmungle for such valuable insights presented in such a productive way. It is always good to get different views from other stakeholders of this wonderful company. Back in 2017, I valued Uchi at RM3.6 - this was based on my DDM and DCF analysis. So with my 15%MOS below RM3 was to me a buy. I am a small fry with limited bullets so prefer to buy value. I believe today in 2024, Uchi needs to be rerated, and it is safe to say that RM4 is the value. Using my the same 15% MOS, RM3.4 is the number, but I will probably take more risk (given the business resiliency and overall sentiment) to use 10% MOS....i.e. RM3.6
Above is just my view, to each their own. All the best and I hope 2024 is another good year for Uchi
company is good. but, someone is trying to play funny with this counter. so, time being don't touch this share. stand at the side line see see walk walk first. don't get trap!
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Posted by ooihk899 > 2024-03-02 20:05 | Report Abuse
Hope it can drop below 3.8.😉