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• | Parade Technologies (4966 TT) Buy, raise TP to NT$706 |  |
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• | ASE Technology Holding (3711 TT) Buy, Raise TP by 7% to NT$88 | |
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• | Vanguard (5347 TT) Buy, TP: NT$73 | |
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• | Pegatron (4938 TT) Buy, TP: NT$65.6 | |
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• | ELAN Microelectronics (2458 TT) Neutral | |
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• | Nien Made (8464 TT) U/G Buy, TP: NT$317 | |
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• | Merida (9914 TT) Buy, TP: NT$200 | |
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• | Flexium Interconnect (6269 TT) Buy, Raise TP to NT$136 | |
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• | TCI (8436 TT) Neutral | |
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• | Win Semi (3105 TT) Buy, raise TP to NT$381 | |
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| Title: | Parade Technologies (4966 TT) Buy, raise TP to NT$706 |
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| Download File: | 4966 TT Parade note 191108--sinopac.pdf  |
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| Summary: | Raise TP by 8% to NT$706 (20x 2020F) from NT$656; Maintain Buy: 1) Demand for high-speed interfaces is rising along with data transmission volume; eDP upgrade to 1.3/1.4 in 2019 benefits Parade¡¦s ASP, and the widening scope of source driver and eDP bundling to include eDP 1.2 products will power source driver shipment growth; 2) Sales of PCIe 4.0 retimer products starting from 2020F will materially benefit Parade¡¦s profitability; 3) Low seasonality for consumer electronics will have a negative short-term effect, but demand fueled by high-speed transmission and the potential of retimer chips applied in servers paint a positive long-term view. |
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| Date: | 2019/11/08 |
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| Author: | TaiwanResearch.com |
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Market Commentary