KUALA LUMPUR (Sept 14): AffinHwang Capital Research has initiated coverage on Aemulus Holdings Bhd with a “Buy” rating and target price of 37 sen and said that as a rapidly growing Automated Test Equipment (ATE) player, Aemulus has carved its niche in the radio frequency (RF) space.
In a note today, the research house said Aemulus’s next big leap will be fuelled by its data centre storage testers, as growth in cloud computing and the Internet of Things (IOT) accelerates.
“We initiate coverage on Aemulus, which is seeking a listing on the Ace market, with a Buy rating and a 12-month TP of 37 sen by pegging it to 10x CY16EPS.
“This represents circa 32% upside to the IPO price of 28 sen,” it said.
Note: Aemulus is set to be listed on teh ACE Market on Sept 15, 2015.