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RHB Research upgrades Malaysia's
semiconductor sector to Overweight from Neutral, anticipating a pick up in chip
demand in the medium term; the house says recent industry data and indication by
the major tech players support its view that the sector has reached a trough and
is on the path to recovery.
"We reiterate our view that chip demand is on track
for a stronger growth in 2H12, underpinned by the resilient recovery in the U.S.
economy as well as the improving consumer and business sentiment as these will
drive chip sales going forward," says RHB.
It upgrades both Unisem (5005.KU) and
Malaysian Pacific Industries (3867.KU) to Outperform from Market Perform
previously and raises their target to MYR1.84 and MYR4.08 (from MYR1.53 and
MYR3.40), respectively.
is up 2.2% at MYR1.41 and Malaysian Pacific is up
2.1% at MYR2.99.
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