Equity Analysis /
Thailand

TH : Hana Microelectronics - Time to revisit

    CGS-CIMB
    26 March 2022
    Published by

    We believe investors’ concerns over Hana’s slow short-term EPS growth have been priced in and current valuations offer attractive long-term risk-reward. Hana’s core business should remain resilient in FY22F despite mounting concerns over supply-demand disruption as a result of the Russia-Ukraine war. Upgrade Hana to Add from Hold with a higher TP of THB71.