Title ESG Equity Note: ASE (3711 TT) Buy, TP: NT$83
  Equity Note: Sunny Friend (8341 TT) Neutral
  ESG Equity Note: Mediatek (2454 TT) Buy, TP: NT$442
  ESG Equity Note: Feng Hsin Iron & Steel (2015 TT) Buy, TP: NT$60
  ESG Equity Note: Formosa Plastics (1301 TT) Buy, TP: NT$93
  ESG Note: Grape King (1707 TT) Buy, TP: NT$246
  ESG Equity Notes: Delta (2308 TT) Buy, TP: NT$140
  ESG Equity Note: Nanya Tech (2408 TT) Buy, TP: NT$77
  ESG Equity Note: Powertech Technology (6239 TT) Buy, TP: NT$117
  BizLink (3665 TT) Buy, TP: NT$210
 
More Titles
Title:ESG Equity Note: ASE (3711 TT) Buy, TP: NT$83
Download File:3711 TT ASE ESG note 200504--sinopac.pdf 
 
Summary: Trim TP by 5.7% to NT$83 (1.6x 2020F P/B); Maintain Buy: 1) The company¡¯s investment in testing service last year has won it steady order inflow amid the pandemic this year, and the one-stop service strategy helped improve its profitability; 2) Multiple new EMS projects are likely to start contributing to sales in 2Q20-3Q20; 3) The company is attractively trading at ~1.3x P/B, vs. historical range of 1.3-1.8x.
  
Date:2020/05/04
Author:TaiwanResearch.com
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.