TMCnet News
[I-bank focus]HSBC lifts ASM Pacific (00522) to HK$93 [ET Net News (China)](ET Net News (China) Via Acquire Media NewsEdge) [ET Net News Agency, 25 April 2014] HSBC Research lifted its target price for ASM Pacific (00522) to HK$93 from HK$90, and maintained its "overweight" rating. The research house noted strong and broad 1Q14 bookings recovery in LED, SMT and semiconductor (TCB, automotive, power). Management suggested that 2Q revenue will likely improve by a moderate double-digit percentage y-o-y, implying upside to HSBC's old revenue forecast of +26% q-o-q. The house now forecast 2Q total q-o-q revenue growth of 34%, with the Assembly Equipment and Leadframe combined gross margin growing 600bp q-o-q, to 38.4% (versus 32.3% in 1Q 2014 and 27% in 4Q 2013). (KL) (c) 2014 ET Net Limited. All rights reserved. Provided by Syndigate.info, an Albawaba.com company |