William Tng of CGS International rates the stock $14.79, up from $10.15. The valuation is based on 43x FY2027 earnings, up from 41x previously.
Amanda Tan of DBS Group Research figures this stock is worth $11.80, up from $8.90 previously.
Joanna Cheah and Ang Wei Han of Jefferies are the most bullish, having raised their target price by more than half to $15.20.
According to them, many regional investors they met are still "rediscovering" this stock.
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"We think AEM's positioning in the SG market continues to be underappreciated relative to its forward growth momentum," they state.
AEM shares, as at 10.07 am, is up 2.02% to trade at $10.11. It has doubled in the past month, and surged 478.74% year to date.
At this level, the company is valued at more than $3.2 billion.
