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Ibiden upgraded to Conviction Buy from Buy at Goldman Sachs

Goldman Sachs keeps a Buy rating on Ibiden with an unchanged price target of 10,000 yen and added the stock to the firm’s Conviction List as the firm thinks the stock’s risk/return profile has improved following the recent share price correction. The firm expects contributions from AI to increase as it estimates that Ibiden supplies nearly all ABF substrates Nvidia (NVDA) uses in GPUs for AI.

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