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IBK Securities Cuts Amotech Price Target, Citing MLCC Growth Potential
Electronic Technology · Electronic Components · yonhap_finance · 2026-09-10
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IBK Securities lowered its price target for Amotech to 30,000 KRW but maintained a 'Buy' rating, highlighting strong growth prospects in MLCC and AI sectors.
What Happened
Price Target Adjustment: IBK Securities has revised its target price for Amotech from 42,000 KRW to 30,000 KRW. This adjustment reflects the impact of the company's recent capital increases, including both paid-in and bonus share issuances.
Growth Drivers: Despite the lower target, the firm maintains a 'Buy' rating on the stock. Analysts point to steady growth in Multi-Layer Ceramic Capacitor (MLCC) sales and the rapid expansion of AI-related optical network business as key catalysts.
AI-Centric Strategy: Amotech is shifting its focus toward AI applications, with expectations that AI-related clients will become the primary drivers of its MLCC business by 2026. The company aims to double its MLCC revenue annually, with AI components expected to account for 70-80% of that total.
Profitability Outlook: The brokerage expects significant improvements in profitability for the second half of the year, projecting 156.1 billion KRW in revenue and 9.3 billion KRW in operating profit. AI-related MLCC sales are anticipated to reach nearly 50% of the total by the fourth quarter.
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