[ET Net News Agency, 10 July 2020] BOCOM Research lifted its target price for ASM
Pacific Technology (00522) to HK$125 from HK$104 and maintained its "buy" rating.
The research house expects 5G smartphone/BTS (base transceiver station) ramp-up,
mini-LED, China back-end growth and advanced packaging to continue to drive growth for ASM
in the longer term. The adoption of mini-LED in devices is rising and may become a major
driver for the company in the next 2-3 years.
For 2Q, BOCOM expects revenue growth to return with a stable GPM. It has a positive view
of ASM's longer-term GPM outlook, backed by increasing revenue contribution from advanced
packaging equipment. (KL)