Reported 9 months ago
Yang Jingchun/Taipei report, June 26, 2024, 4:10 PM. After experiencing a correction following a rise, GB200-related Taiwanese supply chain stocks reversed stronger with the market sentiment, including Sintra (5274) and Qisda (3017), receiving optimism from foreign institutional investors for the future. Taipei's stock market briefly reclaimed 23,074 points on the 26th, facing resistance at the 5-day moving average, closing up 110 points at 22,986 points. Sintra and Qisda, as leading GB200 concept stocks, both surpassed the 5-day moving average. Sintra was supported by HSBC Securities with a raised target price of NT$6,400 and upgraded to a 'Buy' rating. Qisda saw a significant increase, closing up 39 points at NT$740, with Goldman Sachs giving a 'Buy' rating and a target price of NT$1,026. Market observers anticipate bright prospects for Sintra as a major beneficiary of GB200, projecting a 33% and 19% revenue growth in the second and third quarters, exceeding market expectations.
Source: YAHOO