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

Masterlink Securities

MasterLink Securities provide brokerage, securities underwriting, and proprietary trading services in Taiwan. It offers brokerage services, including Taiwan stock exchange and OTC brokerage services, futures trading assistance, foreign securities trading, investment Banking services, and derivative products.

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External broker reports(aggregated public sources)

Equity Bottom-Up

<p>In 2021, the restocking demand from clients is still strong, but ECLAT’s business will be under pressure in the short run. However, primary clients’ strategy of procurement at one stop remains unchanged and the experience of expense control amid the pandemic prevalence will become the cornerstone of future operational growth. Therefore, we hold a rosy outlook for ECLAT’s mid-/long-term business, and project that the company’s sales will maintain a mild growth in 2022. As ECLAT has been trading at 15x-29x PER, we reiterate BUY on the company, with the TP revised to NT$680 (27x FY22 PER).</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>

In 2021, the restocking demand from clients is still strong, but ECLAT’s business will be under pressure in the short run. However, primary clients’ strategy of procurement at one stop remains unchanged and the experience of expense control amid the pandemic prevalence will become the cornerstone of future operational growth. Therefore, we hold a rosy outlook for ECLAT’s mid-/long-term business, and project that the company’s sales will maintain a mild growth in 2022. As ECLAT has been trading at 15x-29x PER, we reiterate BUY on the company, with the TP revised to NT$680 (27x FY22 PER).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.

ECLAT Textile (1476 TT) Rosy Mid-/Long-term Outlook

Eclat Textile Company

ECLAT Textile (1476 TT) Rosy Mid-/Long-term Outlook