External broker reports(aggregated public sources), Masterlink Securities Corp

Masterlink Securities

MasterLink Securities provide brokerage, securities underwriting, and proprietary trading services in Taiwan. It offers brokerage services, including Taiwan stock exchange and OTC brokerage services, futures trading assistance, foreign securities trading, investment Banking services, and derivative products.

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External broker reports(aggregated public sources)

Equity Bottom-Up

<p>Given Ennoconn’s good order visibility, we wait for the shortage of components and materials to be resolved by late 2021. In addition, the company plans to tap into the AIOT market in cooperation with upstream chip suppliers, which is conducive to future development along with software and hardware integration. We forecast FY21 and FY22 EPS at NT$13.27 and NT$15.6, respectively. Currently, it is trading at around 13x FY22 EPS. Therefore, we reiterate BUY on Ennoconn with a TP of NT$250 (16x FY22 EPS).</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Given Ennoconn’s good order visibility, we wait for the shortage of components and materials to be resolved by late 2021. In addition, the company plans to tap into the AIOT market in cooperation with upstream chip suppliers, which is conducive to future development along with software and hardware integration. We forecast FY21 and FY22 EPS at NT$13.27 and NT$15.6, respectively. Currently, it is trading at around 13x FY22 EPS. Therefore, we reiterate BUY on Ennoconn with a TP of NT$250 (16x FY22 EPS).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Ennoconn (6414 TT) Good Order Visibility Solving Component Shortage

Ennoconn Corp

Ennoconn (6414 TT) Good Order Visibility Solving Component Shortage