“We think the market has already priced in a weak 2QFY2023 and FY2023 and will now focus on AEM’s prospects ahead,” he writes.
Maybank Research’s Jarick Seet has upgraded his call on AEM (SGX:AWX
) to “hold” from “sell” previously, with the semiconductor solutions provider having cleared an “overhang” after reaching a settlement with Advantest for US$20 million ($26.62 million).
In his report dated July 28, analyst Jarick Seet has also increased his target price to $3.90 from $2.72 previously as he rolls over his P/E ratio to 12x of AEM’s FY2024 earnings.
