- We think the worse is over for AEM (SGX:AWX) and raise our FY24E revenue and PATMI forecast for AEM by 24% and 50%, respectively. This increases our AEM's target price to S$2.78 from S$2.13, based on an unchanged blended 15x FY24/25E.
High volume order win likely more than 5% of revenue
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
FY24E revenue guidance likely to be lifted
- Management was quite downbeat on its revenue expectations due to uncertainties for new product ramps and only guided 1H24E revenue of S$170-200m. However, with this new order win, we expect AEM's FY24E guidance to be lifted significantly and 2H24E could potentially be much stronger than 1H24E.
Likely bottomed – focus on prospects
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2024-04-03
Read also Maybank's most recent report:
2024-08-14 AEM - Still A Long Way To Recover – Downgrade To SELL.
Previous report by Maybank:
2024-05-09 AEM - 2H24 Hopes Diminish; Downgrade To HOLD.
Price targets by 2 other brokers at AEM Target Prices.
Listing of research reports at AEM Analyst Reports.
Relevant links:
AEM Share Price History,
AEM Announcements,
AEM Dividends & Corporate Actions,
AEM News Articles
