DQC [MARKET PERFORM +1.6%] - Rebounding from rock bottom but valuation looks full - Update
  • 26 Nov 2018
  • Company Research
We downgrade our rating from OUTPERFORM to MARKET PERFORM as we cut our target price by 12% mainly due to lower earnings forecasts. We revise down our 2018F/2019F/2020F EPS by 0.3%/7.6%/6.8% as 9M 2018 sales and EBIT margin trailed our expectation. After