OCBC Investment Research is keeping Venture Corp at "buy" with a higher fair value estimate of $9.35, up from $9.00 previously.
Post-Brexit USD strengthening
With more than 90% of Venture Corp's revenue denominated in USD, OCBC lead analyst Eugene Chua says an expected strengthening of USD against SGD will likely boost its revenue growth in at least 2H16 and 1H17.
According to forecasts by OCBC treasury research and strategy, USD is expected to further appreciate against SGD to hit 1.4000 by June 17.
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