[ET Net News Agency, 1 March 2021] Goldman Sachs lifted its target price for ASM
Pacific Technology (00522) to HK$63.5 from HK$56 and maintained its "sell" rating.
The research house said ASM's management expects 1Q bookings/revenue to be mainly driven
by the Semis segment including IC/discrete, CIS/AA, and LED equipment, while the SMT
segment is expected to see a seasonal QoQ revenue decline.
On GM trends, management expects efforts on cost/product portfolio improvement and the
recovery of automotive/industrial SMT equipment should help margin recovery this year.
Despite better-than-expected demand in the Semis segment in the near-term, Goldman
maintained its cautious view on ASM, given (1) slower earnings growth than previous
recovery cycles, and (2) relatively limited upside for market share gains compared to
other China semiconductor names.
Goldman also revised its 2021/22 operating profit forecasts by -4%/-14%, and its net
profit estimates were thus down by 3%/14%. (KL)
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00522 ASMPT
Nominal 
103.500 +2.500 (+2.475%) Others
01/03/2021 16:53
{I-bank focus}Goldman lifts ASM Pacific (00522) to HK$63.5
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
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