TSE:3436Semiconductor
Does Morgan Stanley’s Valuation Downgrade Recast Sumco (TSE:3436)’s Wafer Growth Story?
Morgan Stanley recently downgraded Sumco Corporation to Underweight from Equalweight on valuation grounds while revising its profit estimates and assumptions, adding to a broader mix of analyst opinions from other brokers such as UBS and Macquarie.
This cluster of conflicting analyst calls has sharpened the market’s focus on how Sumco’s fundamentals, valuation and currency assumptions interact with its wafer growth plans.
Next, we’ll examine how Morgan Stanley’s valuation-driven downgrade,...