Re: ASM Pacific 522
Posted: Fri Oct 30, 2020 9:15 am
vested
Signs of recovery
3Q20 net profit grew 3.8% yoy, in line with our estimate but 23% below consensus.
It formed 72% of our full-year FY20F forecast.
ASMPT is well positioned to benefit from China’s semiconductor localisation trend due to its strong customer base in China and rapidly growing AP.
Reiterate Add with a TP of HK$120.6, based on 4x FY20F P/BV.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 3F75934AF7
Signs of recovery
3Q20 net profit grew 3.8% yoy, in line with our estimate but 23% below consensus.
It formed 72% of our full-year FY20F forecast.
ASMPT is well positioned to benefit from China’s semiconductor localisation trend due to its strong customer base in China and rapidly growing AP.
Reiterate Add with a TP of HK$120.6, based on 4x FY20F P/BV.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 3F75934AF7