PLX [OUTPERFORM +10.1%] - Expecting H2 recovery despite second wave of COVID-19 - Update
  • 2020-08-07T20:09:18
  • Company Research
We maintain our OUTPERFORM rating while trimming our target price by 5.9%, which is mainly due to cutting 2020F/2021F earnings by 33%/6% as a result of lower-than-expected Q2 net profit and concerns of a second wave of COVID-19 that could slow recovery momentum in H2 and 2021F. Meanwhile, we keep our 2022-2024F earnings nearly unchanged.