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Goldman Sachs: Assigns ASMPT a "Buy" rating with a Target Price of 100 Hong Kong dollars.
Goldman Sachs released a Research Report stating a "Buy" rating for ASMPT (00522) with a Target Price of 100 Hong Kong dollars. ASMPT's revenue for the fourth quarter of 2024 is expected to grow by 2% quarter-on-quarter, which is basically in line with the bank's forecast, but the gross margin is 37.2%, which is below the bank's and market's expectations of 41.3% and 40.8%, respectively. The report indicates that the company's guidance for first-quarter 2025 revenue is expected to decline by 15% to 1% quarter-on-quarter, which is weaker than the bank's and market forecasts of a 4% quarter-on-quarter decline and a 2% increase. Management attributed the weak outlook for the first quarter of 2025 to sluggish demand for mainstream Semiconductors and SMT tools, especially for...
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