External broker reports(aggregated public sources), Masterlink Securities Corp

Masterlink Securities

External broker reports(aggregated public sources)

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<p>ASRock’s short-term sales and share price are dragged down by work suspension in Vietnam. However, we expect evident sales recovery in Sep21, and 4Q21 GM is expected to return to normal levels as the work suspension should not severely affect the company’s GM in 3Q21-4Q21. Therefore, we forecast FY21 and FY22 EPS at NT$21.19 and NT$22.4, respectively. Given ASRock’s current share price of NT$163.5, and that the current valuation of 8x PER in 2021 and 7x PER in 2022 is still quite low, we reiterate BUY on the company with the target price raised from NT$192 to NT$211.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

ASRock’s short-term sales and share price are dragged down by work suspension in Vietnam. However, we expect evident sales recovery in Sep21, and 4Q21 GM is expected to return to normal levels as the work suspension should not severely affect the company’s GM in 3Q21-4Q21. Therefore, we forecast FY21 and FY22 EPS at NT$21.19 and NT$22.4, respectively. Given ASRock’s current share price of NT$163.5, and that the current valuation of 8x PER in 2021 and 7x PER in 2022 is still quite low, we reiterate BUY on the company with the target price raised from NT$192 to NT$211.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ASRock Inc. (3515 TT) 4Q21 Sales to Peak Again Raise FY21 Profit Forecast

Taiwan

Asrock Inc develops, designs and retails mother board.

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Asrock Inc (3515 TT)

ASRock Inc. (3515 TT) 4Q21 Sales to Peak Again Raise FY21 Profit Forecast

ASRock’s short-term sales and share price are dragged down by work suspension in Vietnam. However, we expect evident sales recovery in Sep21, and...

Masterlink Securities

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