PETALING JAYA: TA Research has set a target price of 28 sen for ACE Market-bound WTEC Group Bhd, indicating a 12% upside from its initial public offering (IPO) price of 25 sen per share.

The research house stated that the valuation is based on a price-to-earnings ratio (PER) of 12.7 times its forecasted financial year 2025 (FY25) earnings per share (EPS).