Title Landmark (3081 TT) Buy, TP: NT$385
  Sinbon (3023 TT) U/G Buy, TP: NT$202
  Parade Technologies (4966 TT): Raise TP to NT$1,473; Maintain Buy
  ESG Note: TXC (3042 TT) Buy: TP: NT$100
  ESG Equity Note: Mediatek (2454 TT) Buy, raise TP to NT$950
  Chenbro Micom (8210 TT) Neutral
  Makalot (1477 TT) U/G Buy, TP: NT$200
  ESG Equity Note: Mediatek (2454 TT) Raise TP to NT$920; Maintain Buy
  Macauto (9951 TT) Buy, TP: NT$90
  ESG Note: Powertech (6239 TT): Downgrade to Neutral
 
More Titles
Title:TCI (8436 TT) Buy, TP: NT$335
Download File:8436 TT TCI note 200619--sinopac.pdf 
 
Summary:Raise TP to NT$335 (18x 2021 P/E); Maintain Buy: 1) Order flows from China and Europe are improving; 2) Sales in 3Q20F will outperform TCI¡¯s previous sales guidance; 3) Sales in 2021F will increase by 20% YoY thanks to long-term orders from overseas international brand clients, and stabilizing sales in the China market; 4) Valuation: After advancing our P/E basis forward to 2021 to capture the positive operational outlook for next year, we raise our TP from NT$292 (18x 2020F P/E).
  
Date:2020/06/19
Author:TaiwanResearch.com
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