Bank of America Securities: Lowered ASM Pacific Technology (00522.HK) target price to HKD 95, maintained "neutral" rating.

According to the Smart Finance and Economics APP, Bank of America Securities released a research report stating that ASM Pacific Technology (00522.HK) performed below expectations in the third quarter due to profit reduction and restructuring costs. However, the company's management is positive in guiding for the fourth quarter, expecting sales to reach $470 million to $530 million, with a median increase of 7% quarter-on-quarter and 14% year-on-year. The bank expects ASMPT to achieve strong profit growth next year, as the base year of 2025 is low, predicting that earnings per share will more than double next year. However, the absolute values of revenue and profit should remain at a moderate level in the cycle. The bank reiterated its "neutral" rating on ASMPT, lowering the target price from 100 Hong Kong dollars to 95 Hong Kong dollars.