[ET Net News Agency, 1 November 2019] HSBC Global Research raised its target price for
ASM Pacific Technology (00522) to HK$123 from HK$113 and maintained its "buy" rating.
The research house said its 2H outlook is now weaker than it had previously expected,
but HSBC thinks recent comments from other major semis players, such as TSMC, ASE, UMC,
and Amkor, all suggest that a semis cycle recovery is just around the corner, leading HSBC
to anticipate better-than-seasonal demand in 1H 2020.
In addition, it thinks relatively better orders for ASM's lead-frame business are also a
good leading indicator of customers' outlook and could lead the backend equipment (BE)
revenue growth.
Structurally, HSBC remains positive on the upcoming 5G theme to drive rising demand for
both advanced packaging equipment and surface mount technology (SMT) equipment. It expects
ASM's earnings growth to resume in 1Q 2020 and forecast growth of 328% for 2020. (KL)
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00522 ASMPT
Nominal 
76.950 -1.450 (-1.849%) Research Report
01/11/2019 17:15
{I-bank focus}HSBC raises ASM Pacific (00522) to HK$123
| Remark: | Real time quote last updated: 19/09/2024 09:50 |
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