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Analysts optimistic on AEM as it expands to take advantage of industry uptrend

Lim Hui Jie
Lim Hui Jie1/12/2022 11:41 AM GMT+08  • 3 min read
Analysts optimistic on AEM as it expands to take advantage of industry uptrend
With Intel announcing an expansion in Malaysia in Dec 2021, analysts are optimistic on its key test provider, AEM.
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Analysts from CGS-CIMB, DBS Group Research and Maybank have maintained their “buy” calls on AEM Holdings, following the company’s latest FY2022 revenue guidance of $670 million to $720 million.

In his Jan 10 report, CGS-CIMB analyst William Tng notes that AEM will benefit from its key customer Intel’s hefty expansion in Malaysia, driving AEM’s FY2023 earnings to a record.

As such, Tng has raised his target price to $7.90 from $5.84, to factor in a 10.7% to 12.2% increase in his FY2022 and FY2023 earnings estimates.

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