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《大行报告》瑞银上调ASM太平洋(00522.HK)目标价至155元 评级「买入」
阿思达克 04-22 09:44
瑞银发表报告表示,该行早前预料SMT(电子电路表面组装技术)解决方案行业复苏、半导体封装测试代工,以及汽车市场炽热将带动毛利率改善,而ASM太平洋(00522.HK)所公布今年首季表现强劲,并超出预期。该行相信,在供应链紧张情况下,行业上行周期仍然持续,首季半导体及SMT解决方案订单量增加,将持续带动未来收入上升。

该行指,ASM太平洋次季销售额目标为按季增长7%至16%,预期在内地汽车市场发展下,SMT解决方案业务在未来数季将带领集团增长。

瑞银表示,ASM太平洋首季毛利率提升至39.6%,该行预期定价能力提升,ASM太平洋未来数季的毛利率仍有上涨空间,并相信随着技术迁移,先进包装技术在半导体行业的重要性会越来越高,将今明两年每股盈利预测各上调17%及9%,将目标价由142元升至155元,此相当於预测2022年市盈率23倍,维持「买入」评级。

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