View the latest quotes April 15, ASM Pacific fell 0.33% to 75.8 Hong Kong dollars, the shares ran a large market, the same period, the index rose 0.16%. JPMorgan set its target price from HK $70 to HK $72, reiterating the unit's neutral rating. JPMorgan said it had previously adjusted its revenue and net profit forecasts for the 2010 fiscal year by 5% and 6% respectively; The new target price is still 7.5 times times the value of the book per share in the 2010 fiscal year, at a historic high, equivalent to 2010 times the forecast for earnings per share in fiscal year 15 times. At the same time, ASM's main competitor, Kulicke & Soffa, expects revenue to increase by 20% to $153 million in the first quarter of March, and a further 33% in June, To 205 million dollars, this is far better than the normal level of the season, easing their previous concerns about the impact of Chinese New Year. JPMorgan added that strong it end-user demand would keep the company's equipment orders strong, but high valuations suggest there is limited room for further gains.
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