UOB Kay Hian Research’s Clement Ho has maintained his “buy” call on UMS Holdings and increased his target price from $1.65 to $1.92.
The higher target price comes as the near-term supply shock from the chip shortage situation would transition into longer-term demand sustainability due to emerging technologies, according to indications from upstream foundries.
This, Ho says in a July 1 report, will benefit UMS and key client Applied Materials (AMAT).
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