Goldman Sachs: Raises ASMPT (00522.HK) target price by 3% to HK$183, maintains "Neutral" rating; TCB and photonics equipment benefit from generative AI trend.

According to Zhitong Finance APP, Goldman Sachs released a research report raising its 12-month target price for ASMPT (00522.HK) by 3% from HK$177 to HK$183, while maintaining a "Neutral" rating. The bank holds a positive view on ASMPT's advanced packaging applications, believing it will benefit from the technology migration toward smaller pitches, as well as increased applications in GPU, ASIC, and HBM. The bank expects the company's third-quarter and fourth-quarter revenue to grow 5% and 3% quarter-on-quarter, respectively, to HK$5.172 billion and HK$5.325 billion, mainly driven by TCB and photonics equipment, as well as SMT equipment continuing to benefit from AI server demand.