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<Research>Citi: ASMPT (00522.HK) Biz Fundamentals Improving; Rating Reiterated at Buy
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ASMPT (00522.HK)'s share price rebounded over 5% in the morning session yesterday (14th), breaking the historical resistance level of $120 for the first time since 2021, Citi Research issued a research report saying. The broker believed that the share price strength was mainly driven by news reports that ASMPT recently demonstrated its HBM TCB technology to Samsung Electronics, with the project having entered a joint evaluation stage. As the industry increases capital expenditure in advanced packaging, ASMPT's business fundamentals are improving, Citi Research noted. The Company continued to streamline operations, including the potential disposal of its NEXX and SMT businesses, which could drive a valuation re-rating beyond its historical range, in the broker's view. Therefore, Citi Research reiterated rating at Buy on ASMPT, with a target price of $145. Auto-translated by AI AASTOCKS Financial News |
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