AEM Holdings' Contract Win Could Contribute 5% to FY 2024 Revenue -- Market Talk

Dow Jones04-04

0438 GMT - AEM Holdings' recent win of a contract from a major fabless provider for its chip-testing solution will likely contribute at least 5% of its FY 2024 revenue, Maybank Research analyst Jarick Seet says in a note. The high volume order win will begin in FY 2024 and more deliveries are expected in subsequent years, he notes. "We think the worse is over for AEM," says Seet, as Maybank raises its FY 2024 forecasts for revenue and profit after tax and minority interests by 24% and 50%, respectively. Maybank upgrades its rating for the stock of the Singapore semiconductor equipment maker to buy from hold and increases its price target from S$2.13 to S$2.78. The stock was last 1.3% higher at S$2.39.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

April 04, 2024 00:38 ET (04:38 GMT)

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