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JPM Raises ASMPT (00522.HK) TP to HKD175, Sees Multiple Catalysts Driving Share Price in Coming Quarters
Recommend 6 Positive 7 Negative 2 |
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JPMorgan issued a report stating that ASMPT (00522.HK)'s 1Q26 results and 2Q26 guidance both significantly exceeded market expectations, mainly benefiting from strong revenue in semiconductor and Surface Mount Technology (SMT), as well as improved semiconductor gross margin. The bank believes the company will have several catalysts to drive its share price higher in the coming quarters, including backlog HBM4 orders that may be released in 2H26 after SK Hynix resolves logic substrate challenges related to its Rubin chips. Meanwhile, the company is engaged in extensive discussions with all DRAM manufacturers regarding certification cooperation for HBM4E TCB. JPM expects ASMPT's revenue to grow by approximately 30% to 40% this year, supported by continued expansion in advanced packaging and a strong recovery in mainstream semiconductor and SMT solutions driven by AI server circuit boards and power management ICs. It therefore raised its EPS forecasts for this year and next year by 35% and 21%, respectively, and lifted its TP from HKD130 to HKD175, maintaining an Overweight rating. (hc/w) 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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