Genetec - Next leg up with BESS. CIMB Reiterates Add with TP RM4.20

Date: 
2023-03-01
Firm: 
CIMB
Stock: 
GENETEC
Price Target: 
4.20
Price Call: 
BUY
Last Price: 
2.07
Upside/Downside: 
+2.13 (102.90%)

Genetec has completed a pilot run of its BESS and is ready to move into the commercialization phase.

  • The company has installed an initial BESS running on solar energy at its Bangi plant and has received encouraging inquiries for deployment across various applications.
  • Genetec is in discussions with a potential customer to deploy over 15 MWh BESS solutions in 2HCY23F.

Genetec has a record-high RM180m order book replenishment in 2QFY3/23, mostly from the electric vehicle and energy storage segments. It expects to receive favorable order replenishment in 2HCY23F, providing healthy order pipeline visibility for at least the next two years.

The Add rating with an unchanged TP of RM4.20 is maintained, with higher-than-expected orderbook replenishment, rise in institutional funds' holdings, expansion into new customers or segments, depreciation of the ringgit against the US$, and potential interest as an ESG-related play as potential re-rating catalysts.

https://klse.i3investor.com/files/my/blog/img/bl7981_genetec_bess_page0001.jpg


 

Discussions
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newbie8080

@Genetec A baby step

Where do you get this management briefing details?
The QR result was delivered on 31-May evening where QR does not provide any details and the next day, 1-June your management briefing details is posted.

So far, no Investment Bankers release any comments to date and no AGM yet.

Are you deliberate in releasing fake news?

2023-06-02 10:54

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