AEM - S$670m-720m Revenue Guidance For FY22
- AEM (SGX:AWX) guides for revenue of S$670m-720m in FY22F. It gave capex guidance at S$10m. See AEM's announcements.
- The group highlighted some margin compression due to higher supply chain costs and increased R&D spend to engage new customers.
- Reiterate ADD call on AEM. Our target price of S$7.90 is based on target P/E multiple of 17.94x (15% discount to the sector average) on FY23F earnings per share forecast.
- Last year, AEM reported full-year results on 25 Feb 2021.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
William TNG CFA CGS-CIMB Research | https://www.cgs-cimb.com 2022-01-12 2022-01-12
Previous report by CGS-CIMB:
2022-01-10 AEM - Intel’s Expansion Plan Bodes Well For AEM
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