GO
| HSI1 | 18,475.92 | +268.79 | 116.19B |
| HSCEI1 | 6,547.29 | +110.20 | 55.14B |
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2024-04-25 12:54:22 ASMPT (00522.HK)'s 1Q24 gross profit margin was in line with expectations, but better TCB business forecasts support a higher valuation multiple, HSBC Global Research issued a research report saying. TCB business orders from wafer and memory are expected to increase, narrowing its valuation gap with Besi. Considering its 1Q24 results, and after lowering its operating margin forecast, HSBC Global Research lowered its 2024 to 2026 EPS forecasts by 8%/ 9%/ 9% each. However, HSBC Global Research raised its valuation base, with projected 2025 PE ratio rising from 18x to 20x, and corresponding elevated its target price to $106 from $78. Although the Company is a long-term beneficiary of the accelerated popularization of TCB, HSBC Global Research believed that short-term strength has priced in, with rating at Hold. ~ AAStocks Financial News Web Site: www.aastocks.com | |