Inari Amertron RF Weakness Likely Priced In: Analyst
Inari Amertron's Radio-Frequency Segment Weakness Appears Largely Priced In
Concerns over continued softness in Inari Amertron's radio-frequency (RF) segment could be largely priced in, says Hong Leong IB analyst Toh Woo Kim. He expects sentiment to improve as RF content recovery and datacom photonics growth gather pace ahead of the next smartphone cycle in the second half of 2025.
New Growth Driver: Datacom Photonics
Toh views the datacom photonics segment as Inari's new structural growth driver, supported by rising optical adoption in AI data centers and persistent supply shortages in high-power laser chips. With capacity set to scale materially over FY2027-2028 and investor appreciation still at an early stage, he sees room for further earnings upgrades as execution unfolds.
Hong Leong raises Inari's target price to 2.60 ringgit from 2.20 ringgit, while maintaining a buy rating. Shares are 4.5% higher at 2.32 ringgit.
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