0614 GMT - Venture Corp.'s earnings are still likely to recover in 3Q, despite growing concerns about the U.S. economy's outlook given high oil prices and higher interest rates, says CGS International's William Tng in a note. Demand from the Singapore tech solutions and contract manufacturing company's customers is likely to turn incrementally positive, barring a deterioration in economic conditions in the U.S., he says. Still, the analyst reduces his estimated 2027 price-to-earnings ratio for Venture's stock to 20X from 23X, given concerns about the U.S. and oil prices. CGSI therefore cuts its target price to 18.94 Singapore dollars from S$21.78, but maintains its add rating. Shares decline 0.95% to S$16.73.
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