Title Advanced Ceramic X (3152 TT) Buy, TP: NT$360
  Micro-Star International (2377 TT) Buy, TP: NT$97
  Makalot (1477 TT) Buy TP: NT$192
  Chlitina (4137 TT), Buy, TP: NT$284
  Fubon FHC (2881 TT), Buy, TP: NT$52
  BizLink (3665 TT), Buy, TP: NT$270
  Ennoconn (6414 TT) Buy, TP: NT$260
  Chailease Holding (5871 TT), Neutral
  Grape King (1707 TT), Buy, TP: NT$219
  Catcher (2474 TT) Neutral
 
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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