Analyst Charles Shi of Needham maintained a Buy rating on Amkor (AMKR – Research Report), reducing the price target to $22.00.
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Charles Shi has given his Buy rating due to a combination of factors including Amkor’s unexpected positive quarterly performance and the company’s strategic positioning despite external challenges. Amkor managed to surpass expectations with its latest financial results, which indicates strong operational capabilities.
Although there are concerns regarding tariffs and their potential impact on the supply chain, Amkor’s limited direct exposure to the U.S. market mitigates some of these risks. Shi acknowledges the uncertainties in the latter half of the year but remains confident in the company’s ability to navigate these challenges effectively, justifying a Buy rating.
Shi covers the Technology sector, focusing on stocks such as Cadence Design, Lam Research, and Ultra Clean Holdings. According to TipRanks, Shi has an average return of -4.2% and a 32.02% success rate on recommended stocks.