PETALING JAYA: Genetec Technology Bhd
, whose share price has rallied by over 24% since the start of May, offers good growth at reasonable valuations, says CGS International (CGSI) Research.
In a note, the research house said Genetec’s latest positive guidance on electric vehicle (EV) and battery energy storage system (Bess) orderbook outlook reaffirmed its “add” call.
Despite the recent EV demand slowdown, CGSI Research said Genetec’s order book outlook remains intact as its EV customer continues to push forward on capacity expansion for new 4680 battery cell technology that caters to both standard and large-sized EVs.
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