KUALA LUMPUR: AmInvestment Bank Research has initiated coverage on Globetronics Technology Bhd with a "hold" recommendation and a fair value of RM2.39 a share, pegged to an FY21 price-earnings of 24 times.
"Our target PE multiple is in line with market-cap weighted average of local peer OSAT (outsourced assembly and test) players’ forward PE of 24 times," it said.
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