Title Adimmune (4142 TT) Buy, TP: NT$92
  Marketech (6196 TT) D/G Neutral
  Giant (9921 TT) Buy, TP: NT$360
  Shin Zu Shing (3376 TT) Buy, TP: NT$180
  TXC (3042 TT) Buy, TP: NT$100
  Kinsus (3189 TT) Buy, TP: NT$90
  Fusheng (6670 TT) Buy, TP: NT$230
  Advanced Ceramic X (3152 TT) Buy, TP: NT$510
  Airtac International (1590 TT) Buy, raise TP to NT$742
  Yageo (2327 TT) Buy, TP: NT$476
 
More Titles
Title:Elite Material (2383 TT) Buy, raise TP to NT$156
Download File:2383 TT Elite Material note 191004-sinopac.pdf 
 
Summary:Raise TP by 4.7% to NT$156 (15x fully diluted 2020F P/E); Maintain Buy: We raise our 2019 and 2020 EPS forecasts to NT$8.95 and NT$10.85 (NT$10.42 if fully diluted) respectively because EMCˇ¦s GM surprise in 2H19 implies strong earnings potential of its SLP products and because 5G demand is trending better than we expected. After applying the same 15x P/E to our new fully diluted 2020 EPS estimate of NT$10.42, we raise our TP from NT$149 to NT$156 and maintain our Buy rating, despite unsatisfactory 4Q19F operations due to networking products inventory adjustment.
  
Date:2019/10/04
Author:TaiwanResearch.com
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