Title Delta (2308 TT) Buy, TP raised to NT$329
  Sercomm (5388 TT) Buy, TP of NT$95 (16x 2021F P/E)
  Universal Vision Biotechnology (3218 TT) U/G Buy, TP: NT$330
  Nanya Tech (2408 TT) Buy, TP raised to NT$116
  Largan (3008 TT) Neutral
  BenQ Materials (8215 TT) U/G Buy, TP: NT$33
  Kinsus (3189 TT) Buy, TP: NT$109
  Airtac International (1590 TT) Buy, TP: NT$1,080
  TaiDoc (4736 TT) Buy, TP: NT$222
  Sinbon (3023 TT) Buy, TP: NT$238
More Titles
Title:Makalot (1477 TT) Buy, raise TP to NT$245
Download File:1477 TT Makalot note 201204--sinopac.pdf 
Summary:Raise TP to NT$245 (21x 2021F P/E); Maintain Buy: 1) Industry consolidation is speeding up in the wake of COVID-19; 2) Loungewear sales are strong in 2020, and we expect sportswear sales to recover momentum in 2021; 3) The company has speed up capacity expansion for an estimated 15-20% addition in 2021; 4) Valuation: Makalot trades at 18.6x 2021F P/E; our TP offers 29% upside from the DEC 3 close.
Register online at Become Member to receive Taiwan research services. For more information, contact TaiwanResearch.com. Tel (8862) 2316-5181
©2001, 2000, 1999 SinoPac All rights reserved. Additional copyright information applies.