SINGAPORE (Feb 26): Shares in Venture are up by $1.02 or 3.8% to $27.68 on Monday with 2 million shares traded after UOB Kay Hian called a "buy" call on the stock with a higher target price of $31.88.

UOB reported last week the company is the manufacturer of a leading consumer device which has potential revenue in excess of $2.5 billion per year.

"Our findings without input from management reveal strong evidence that Venture is the manufacturer of a consumer device (Device I) for an American multinational company (the client)," says analyst Foo Zhi Wei in the report.

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