《大行報告》高盛升ASMPT(00522.HK)目標價至124.01元 生成式AI推動先進封裝SPE
高盛發表研究報告,預期生成式人工智能(GenAI)將推動ASMPT(00522.HK)先進封裝半導體生產設備(SPE)業務發展,考慮到市場市場需求強勁,毛利率前景向好,有利於公司在整個半導體周期中的增長。
報告指,ASMPT SPE業務收入於2020至2021年錄得正增長,並於2022至2023年轉跌,預計隨著中國成熟製程節點產能的擴張,半導體周期將趨於穩定好轉,2024至2026年SPE業務收入將再次錄得正增長。
ASMPT訂單量於今年首季觸底反彈,高盛認為是復甦的早期跡象,指出雖然2023年新增訂單主要來自於SMT解決方案業務的推動,但相信隨著汽車SMT增長恢復正常化,以及AI應用驅動先進封裝增長,今年公司產品結構料將重新轉移至半導體。高盛將ASMPT目標價上調13.6%至124.01元,反映盈利增長前景穩健,維持「買入」評級。
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