Amkor (AMKR – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Joseph Moore from Morgan Stanley maintained a Hold rating on the stock and has a $24.00 price target.
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Joseph Moore has given his Hold rating due to a combination of factors that reflect both optimism and caution regarding Amkor’s future performance. Amkor has projected a recovery in the second half of the year, driven by growth in the automotive and consumer markets, particularly with advances in ADAS and infotainment applications and contributions from a new wearables project. Additionally, the company is optimistic about regaining market share with Apple, despite previous setbacks.
However, Moore takes a conservative approach, noting the volatility in order trends at OSATs and the lack of strong conviction for an above seasonal recovery in the second half. While Amkor forecasts flat to slightly increasing revenues, Moore models a slight decline, emphasizing the need for cautious expectations in communications, automotive, and industrial sectors. This balanced view of potential growth opportunities and existing uncertainties underpins his decision to maintain a Hold rating on Amkor’s stock.
Moore covers the Technology sector, focusing on stocks such as Broadcom, Nvidia, and Western Digital. According to TipRanks, Moore has an average return of 13.2% and a 56.97% success rate on recommended stocks.