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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