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<Research> DBS Raises ASMPT (00522.HK) TP to HKD185, Maintains Buy; 1Q26 Results Beat
Recommend 7 Positive 6 Negative 4 |
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DBS Research said in a report that ASMPT (00522.HK) recorded a 32% YoY increase in revenue for 1Q26, about 2% above market expectations. New orders surged 71.6% YoY, with the book-to-bill ratio reaching 1.43. During the period, adjusted net profit rose 193.5% YoY, 28% above market expectations, benefiting from a higher contribution from the high-margin semiconductor business. The report noted that the companys revenue guidance for 2Q implies a 37% YoY increase, 6.5 ppts above market expectations. The broker raised its earnings forecasts for 2026 and 2027 by 5% and 8%, respectively, to reflect a strong margin recovery in the semiconductor segment and solid momentum in the Photonics business. The broker maintained its Buy rating and lifted the TP from HKD130 to HKD185, equivalent to 45x forecast PE for the year. It believes that strategic options for the SMT business and continued progress in Co-Packaged Optics (CPO) technology remain key catalysts for the stocks re-rating. (ss/) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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