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Research by RHB
Buy (Maintained) – TP RM0.68

“Recovering Steadily; Stay BUY"

Stay BUY, new MYR0.68 TP from MYR0.64, 24% upside. Coraza Integrated Technology’s 1Q24 results met expectations, with sales showing its first QoQ uptick after six consecutive quarters of contraction. We anticipate more substantial improvement in the demand outlook in 2H, which is set to drive margin expansion through operating leverage for the group. We continue to like Coraza for its strong engineering know-how, positioning it to capitalise on the recovery in semiconductor equipment demand.

Analysts:
Tai Yu Jie
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Lee Meng Horng 
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$KLSE-CORAZA
Research by RHB
Buy (Maintained) – TP RM0.68

“Recovering Steadily; Stay BUY"

Stay BUY, new MYR0.68 TP from MYR0.64, 24% upside. Coraza Integrated Technology’s 1Q24 results met expectations, with sales showing its first QoQ uptick after six consecutive quarters of contraction. We anticipate more substantial improvement in the demand outlook in 2H, which is set to drive margin expansion through operating leverage for the group. We continue to like Coraza for its strong engineering know-how, positioning it to capitalise on the recovery in semiconductor equipment demand.

Analysts:
Tai Yu Jie
tai.yu.jie@rhbgroup.com
Lee Meng Horng 
lee.meng.horng@rhbgroup.com

$CORAZA / 0240 (CORAZA INTEGRATED TECHNOLOGY BERHAD)