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CGS-CIMB ups AEM Holdings' TP to $5.84 on expected upcycle

Chloe Lim
Chloe Lim11/11/2021 5:43 PM GMT+08  • 2 min read
CGS-CIMB ups AEM Holdings' TP to $5.84 on expected upcycle
AEM Holdings’ TP raised to $5.84 with expected upcycle: CGS-CIMB
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CGS-CIMB analyst William Tng has kept “add” on AEM Holdings Ltd, with a higher target price of $5.84 from $5.59 previously, as a result of a lowered price-to-earnings ratio of 14.92 times from 15.30 times.

To this end, Tng has also upped AEM Holdings’ earnings forecast and revenue by 5.8%-6.3%, and now expects 4QFY2021F revenue/net profit to grow 154%/89% y-o-y. Furthermore, he has upped AEM Holdings’ FY2023 earnings per share by 7.2% to 39.1 cents

AEM recorded revenue of $146.2 million in 3QFY2021 ended September, up 9.7% y-o-y from $112.0 million in 2QFY2021, on the back of volume ramp for next generation System Level Testing (SLT) handlers and peripheral tools.

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