Accessible version AMEC (A) Leading etching toolmaker; initiate at Buy on solid WFE demand and localization Initiating Coverage: BUY | PO: 352.00 CNY | Price: 289.20 CNY Leading etching tool maker in China; initiate at Buy We initiate coverage on AMEC, a leading semiconductor equipment company based in China, with Buy rating and price objective (PO) of CNY352 (22% upside potential). Our bullishness on the stock is based on 1) the robust wafer fabrication equipment (WFE) demand in China, esp. given a potenti ...