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<Research>UBS Lifts ASMPT's TP to HKD135, Sees Potential SMT Biz Divestment as Positive
Recommend 1 Positive 9 Negative 1 |
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ASMPT (00522.HK) announced that it is evaluating options for its surface mount technology (SMT) business, which may involve a sale, joint venture, spin-off, or listing. UBS said in its research report that it sees this as a positive move by ASMPT, as it can focus on semiconductors and advanced packaging while streamlining operations and resource allocation. In addition, the SMT business traditionally has lower profit margins and technical barriers, and its industry cycle is different from that of the semiconductor sector. If ASMPT opts for divestment or spin-off, UBS believes it may embrace a revaluation, given that opportunities in advanced packaging are likely to structurally boost its profit margins and earnings. UBS has lifted its target price for ASMPT from HKD95 to HKD135, with a Buy rating. AAStocks Financial News |
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