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Analysts maintain 'buy' on UMS, seeing strong order forecasts

Lim Hui Jie
Lim Hui Jie8/17/2022 02:17 PM GMT+08  • 2 min read
Analysts maintain 'buy' on UMS, seeing strong order forecasts
DBS raises their target price to $1.83, but CGS-CIMB leaves theirs unchanged. Photo: Bloomberg
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Analysts from CGS-CIMB and DBS Group Research have maintained their buy rating on UMS Holdings, but DBS has raised their target price from $1.70 to $1.83.

DBS analyst Ling Lee Keng explained the raised target price by pointing at UMS’s strong order forecasts from its key customer, Applied Materials (AMAT).

The US semiconductor equipment maker expects “sales to increase despite the impact of the ongoing supply chain challenges in FY2022.

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