Zhi Tong Cai Jing·2026-02-11 06:11Core Viewpoint - Morgan Stanley upgraded ASMPT (00522) from "Neutral" to "Overweight" with a target price increase from HKD 76 to HKD 125, citing strong capital expenditure trends in advanced logic packaging and initial signs of improvement in the OSAT market [1] Group 1: Rating and Price Target - The rating for ASMPT has been upgraded to "Overweight" [1] - The target price has been raised to HKD 125 from HKD 76 [1] Group 2: Financial Forecasts - Earnings per share forecasts for the fiscal years 2026 and 2027 have been increased by 7% and 15% respectively [1] Group 3: Market Insights - ASMPT is expected to raise its long-term total addressable market size for TCB equipment and is confident in gaining more market share [1] - The company is making progress in the high bandwidth memory (HBM) TCB market, with a favorable capital expenditure environment in China and among mainstream OSAT vendors [1]