KGI Securities’ Kenny Tan has maintained his ‘outperform” rating for AEM Holdings, but with a reduced target price of $5.05, down from his previous figure of $5.26. 

Tan notes this was because he expects AEM’s “blistering” growth pace to decelerate this year, after six years of high double-digit growth which saw revenue expand close to 16 times from 2014’s trough. 

He said AEM remains fairly undervalued relative to test equipment peers, as investors seek shelter from the lack of forward guidance.

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