Citi Raises ASMPT Price Target to HK$145, Reiterates "Buy" Rating

Deep News03-05

Citi has issued a research report announcing an upward revision to its profit forecast for ASMPT. The financial institution has increased the target price from HK$125 to HK$145, applying a projected price-to-earnings ratio of 35 times for the second half of 2026 through the first half of 2027. The company is continuing to streamline its core operations, having decided to divest its NEXX business. The bank believes that an increasing focus on the SEMI back-end segment could potentially help ASMPT break through its historical valuation range. The "Buy" rating has been reaffirmed.

The report noted that ASMPT's fourth-quarter performance last year exceeded both its provided guidance and market expectations. Furthermore, the guidance for the first quarter of 2026 indicates that revenue is expected to be stronger than anticipated, driven by growth in thermal compression bonding and high-end die bonder sales. Order visibility for the first half of 2026 is improving, with an acceleration in order growth momentum. The bank believes that, leveraging its technological leadership, ASMPT is well-positioned to capitalize on the expansion of the thermal compression bonding market and gain market share.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment