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AEM well-positioned for next phase of business growth: Citi

Lim Hui Jie
Lim Hui Jie4/19/2022 11:39 AM GMT+08  • 2 min read
AEM well-positioned for next phase of business growth: Citi
Citi has given a "Buy" call and target price of $6.37.
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Citibank analyst Jame Osman has initiated coverage on AEM Holdings with a “buy” call and $6.37 target price, saying the company is “well-positioned for the next phase of business growth.”

Osman, in an April 18 report, points out that AEM is likely to benefit from its key customer’s plans to significantly increase its capex and production capacity. This is as part of its plans for market leadership and a new product roadmap.

Osman notes that Intel has earmarked elevated capex of about US$25 billion-US$26billion ($34 billion-$35 billion) over 2022-2024, and has planned to build new testing facilities in Malaysia and Vietnam where AEM’s production line is located.

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