Naura Could Face Near-Term Component Supply Constraints
Dow Jones
Sep 30
0241 GMT - Naura Technology could face component supply constraints inthe near term due to strong demand, Daiwa analysts say in a research note. Daiwa expects its revenue to increase to 12 billion yuan in 3Q and 15.8 billion yuan in 4Q. Revenue could be weighted toward 4Q due to the time needed to validate locally sourced chip equipment components, they say. "We expect Naura to continue gaining market share among its key leading-edge fab clients, supported by portfolio expansion," they note. The brokerage raises Naura's target price to 715.00 yuan from 685.00 yuan. However, given the around 40% appreciation in its share price so far this year, Daiwa downgrades Naura to outperform from buy. Shares are last at 621.50 yuan.
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