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TA raises Unisem's target price
by hlk Thu 03 May 2012, 13:28
TA Securities upped its target price for Malaysian semiconductor packaging and test services provider Unisem (M) Bhd to RM2.15 per share from RM1.10 previously, citing bullish sales outlook in the semiconductor industry.
"We project sales to pick up significantly from the second quarter of this year onwards, to be in line with the improvement in global chip sales," the broker said in a research note today.
TA added that global chip sales, which has normalised since January, pointed to a sustainable recovery in the semiconductor industry.
The broker said Unisem's operating expenses are also expected to drop after the group implemented several cost-cutting measures in 2011.
As of 9.54 am, shares in Unisem dropped 2.05 per cent, underperforming the Malaysian benchmark stock index that dropped 0.12 per cent. - Reuters
"We project sales to pick up significantly from the second quarter of this year onwards, to be in line with the improvement in global chip sales," the broker said in a research note today.
TA added that global chip sales, which has normalised since January, pointed to a sustainable recovery in the semiconductor industry.
The broker said Unisem's operating expenses are also expected to drop after the group implemented several cost-cutting measures in 2011.
As of 9.54 am, shares in Unisem dropped 2.05 per cent, underperforming the Malaysian benchmark stock index that dropped 0.12 per cent. - Reuters
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