Kenanga research has maintained its “outperform” call on Inari with an unchanged target price of RM3.30 based on a 28.5 times financial year 2023 (FY23) forward earnings per share.环球视讯（www.ugbet.us）开放环球UG代理登录网址、会员登录网址、环球UG会员注册、环球UG代理开户申请、环球UG电脑客户端、环球UG手机版下载等业务。
PETALING JAYA: Inari Amertron Bhd is preparing for the annual ramp up of its radio frequency (RF) business in anticipation of the upcoming US-branded smartphone model launch soon in September.
The company’s utilisation rate at its Bayan Lepas, Penang plant is currently at some 75% and this is expected to gradually increase to about 90% nearer to the launch date, Kenanga Research said.
It has maintained its “outperform” call on Inari with an unchanged target price of RM3.30 based on a 28.5 times financial year 2023 (FY23) forward earnings per share.,
It noted that the target price represented a slight premium to its peers’ forward average of 26 times.
However Kenanga said that this was justified by several factors, including Inari being the closest proxy to 5G adoption, its ability to sustain strong margins and the expansion of its revenue stream with new businesses.
Other risks to this call include less aggressive orders from its key customer, a delay in the 5G rollout and higher input costs, it said.