9MFY6/21 core net profit beat expectations, at 84%/80% of our/Bloomberg consensus’ forecasts, due to stronger-than-expected sales in 3QFY21. We expect MPI to maintain double-digit US$ sales growth in FY6/22F, driven by robust demand for power management chips for EVs and data centres. We raise FY21-23F EPS by 10-12%. Reiterate Add, with a RM42 TP.
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