| Title |
• | Tong Hsing (6271 TT) Buy: TP: NT$253 |  |
| |
• | Airtac International (1590 TT) Buy, TP; NT$1,382 | |
| |
• | China Development FHC (2883 TT) Buy, TP: NT$12.00 | |
| |
• | Fitipower (4961 TT) Neutral | |
| |
• | Lotes (3533 TT) Buy, raise TP to NT$583 | |
| |
• | Asustek (2357 TT) Buy, TP: NT$410 | |
| |
• | Advanced Ceramic X (3152 TT) Buy, Raise TP to NT$650 | |
| |
• | Quang Viet Enterprise (4438 TT), UG Buy, TP of NT$136 | |
| |
• | Eclat (1476 TT), Buy, TP of NT$487 | |
| |
• | Marketech (6196 TT) Buy, Lower TP to NT$133 | |
| | | |
| More Titles | Page 1 2345678910>> | |
|
|
|
| | |
|
|
|
| Title: | Tong Hsing (6271 TT) Buy: TP: NT$253 |
|
|
| Download File: | 6271 TT Tong Hsing note 210324--sinopac.pdf  |
|
|
|
|
|
| Summary: | Maintain Buy, lower TP by 2% to NT$253 (19x 2021F EPS): 1) Driven by the auto market recovery, THEIL¡¯s ceramic component business will return to growth this year after a 4-year decline; 2) Enhanced by spec upgrades and penetration of automotive electronics, THEIL¡¯s CIS product portfolio will improve; 3) Valuation: After lowering our 2021 EPS estimate from NT$13.62 to NT$13.31 to reflect our diminished 1Q21 assumptions, we trim our TP from NT$258 to NT$253. Our TP offers an upside of 27% from the MAR 23 close. |
|
| | |
|
| Date: | 2021/03/24 |
|
| Author: | TaiwanResearch.com |
|
|
|
|
|
|
Market Commentary