The group adds that it expects to report some “margin compression” due to higher supply chain costs and an increase in research and development (R&D) spend as they “engage customers on new projects”.
During the day, shares in AEM reached a two-week high of $5.275, surging some 5.71% from its last-closed price of $4.99.
Shares in AEM closed 23 cents higher or 4.609% at $5.22 on Jan 11.
On Jan 10, CGS-CIMB analyst William Tng upgraded his target price on AEM to $7.90 from $5.84, citing AEM's chance to ride along with the planned expansion of Intel, known to be a key customer of AEM.
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