AEM Recovery Will Have to Wait as Investors Weigh Inventory Error -- Market Talk

Dow Jones01-17

0511 GMT - AEM Holdings will likely have to wait until 2025 to see substantial recovery, with its recent inventory shortfall error hurting investor confidence in the short term, Maybank Research analyst Jarick Seet writes in a research note. He expects the Singapore semiconductor equipment maker to post an impairment charge of S$18 million to S$25 million in its FY 2023 results, "likely leading to a loss."The analyst says a recovery in 2024 is unlikely amid lower end-demand across the industry. Maybank downgrades its rating to hold from buy, trimming its target price to S$3.26 from S$3.76. Shares are down 1.9% to S$3.11, taking losses this week to 10%. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

January 17, 2024 00:11 ET (05:11 GMT)

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He expects the Singapore semiconductor equipment maker to post an impairment charge of S$18 million to S$25 million in its FY 2023 results, \"likely leading to a loss.\"The analyst says a recovery in 2024 is unlikely amid lower end-demand across the industry. Maybank downgrades its rating to hold from buy, trimming its target price to S$3.26 from S$3.76. Shares are down 1.9% to S$3.11, taking losses this week to 10%. 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