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 200710--sinopac.pdf 
 
Summary:Maintain Buy, TP of NT$335 (18x 2021F P/E): 1) Considering the nascent recovery in China and sustained momentum in Europe/US, we forecast 3Q20 and 4Q20 sales at NT$2.35bn (+6.5% QoQ, +13.5% YoY) and NT$2.55bn (+8.5% QoQ, +9.5% YoY) respectively; 2) TCI is successfully targeting US and European customers, which tend to place long-term orders. We believe the improving customer mix will contribute to the steady recovery of TCI¡¯s operations over the mid-to-long term.
  
Date:2020/07/10
Author:TaiwanResearch.com
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