Aletheia Capital Initiates Coverage on $AMKR with Buy Rating, PT $62 Analyst comments: "We initiate coverage of Amkor with a BUY rating and a TP of $62, based on an SOTP (18x implied FY27E PER). Amkor, a leading U.S.-based OSAT provider, is well-positioned to benefit from two major secular tailwinds: the surging demand for CoWoS packaging and the America Manufacturing initiative. We expect Amkor to expand its existing overflow Hopper GPU packaging business with NVDA by capturing first-source CoWoS opportunities, including GB10, Vera and B30, as well as winning Broadcom’s TPU V6 & V7 ASIC slots in 2026. In addition, Amkor could add new slots such as Spectrum-X, CPX, Tomahawk, etc. Amkor is constructing a $7 billion advanced packaging facility in Arizona, scheduled to begin operation in 2028. We believe this site has attracted strategic investment from key customers, reinforcing its long-term growth visibility and U.S. supply chain localization. We forecast Amkor’s CoWoS sales to grow 2.5x in FY26E and a further 50% in FY27E, resulting in EPS growing at a 65% CAGR from FY25E–27E." Analyst: Warren Lau