Analysts see AEM as good 'buy' on new all-time high profit and strong momentum in industry

As AEM Holdings see record earnings and revenue of $97.6 million and $519.0 million respectively for the FY2020 ended December, analysts from CGS-CIMB Research, DBS Group Research and Maybank Kim Eng have recommended investors to continue accumulating the stock.

CGS-CIMB analyst William Tng has maintained “add” on AEM with an unchanged target price of $4.63 as the company’s results stood in line with the brokerage’s as well as Bloomberg consensus’ expectations.

Tng has also noted that AEM’s strong balance sheet, which grew to $134.8 million as at Dec 31, 2020, from $107.7 million in Dec 31, 2019, is positive for mergers and acquisitions (M&A) growth for the company.