JP Morgan: Raise ASMPT (00522) target price to HKD 130, maintain "overweight" rating.
In the long term, ASMPT will focus more on fast-growing advanced packaging equipment business through business portfolio restructuring.
JP Morgan released a research report stating that ASMPT (00522) is in a favorable position and can benefit from strong growth in advanced packaging equipment investment and the recovery of mainstream semiconductor solutions. In addition, the company has implemented stricter operating expense management, which is expected to help the company improve operating leverage in the coming quarters. The firm maintained its "overweight" rating on ASMPT, with the target price raised from HK$125 to HK$130.
JP Morgan continued that in the long term, ASMPT will drive the company to focus more on the fast-growing advanced packaging equipment business through business portfolio restructuring. With the expansion of the overall market size of wafer-level packaging and improvement in the mainstream semiconductor market, earnings are expected to accelerate in 2026 to 2027.
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