《大行報告》高盛:ASMPT(00522.HK)第四季收入指引弱於預期 維持「買入」評級
高盛發表研報指,ASMPT(00522.HK)第三季收入符合預期,但毛利率受到產品組合及持續的去庫存消化所拖累,未能達到預期水平,第四季收入指引介乎3.9億至4.6億美元,即按季下跌12%至增長3%,同樣低於市場及該行預期。
ASMPT管理層將第四季展望疲軟,歸因於宏觀環境及長期需求走弱,影響客戶資本支出預算。但高盛仍然看好ASMPT的中長期發展前景,指出生成式人工智能、高性能計算(HPC)及內存領域的客戶對先進封裝解決方案的需求正不斷增長,另一方面汽車及工業繼續為收入貢獻最多。
高盛給予ASMPT「買入」評級,目標價為94元,預測明年公司收入及盈利將分別按年增長31%及138%,因此認為目前的估值具有吸引力。
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