Core Viewpoint - Bank of America Securities initiates coverage on Innoscience Technology (02577) with a "Buy" rating and a target price of HKD 108 [1] Company Summary - Innoscience Technology is a leading player in the gallium nitride (GaN) power semiconductor market, holding a 30% global market share by revenue last year [1] - The company is expected to benefit from a partnership with NVIDIA to develop an 800V HVDC architecture, which is projected to enhance revenue potential starting in 2027 [1] Industry Summary - The global GaN power semiconductor market is anticipated to grow at a robust compound annual growth rate (CAGR) of 63% from 2024 to 2028 [1] - Bank of America forecasts a compound annual growth rate of 72% for Innoscience's revenue from 2024 to 2027, with a projected net profit margin of 12.1% by 2027 [1]
美银证券：首次覆盖英诺赛科(02577)予“买入”评级 目标价108港元