【罗兰贝格】Biodiversity valuation.pdf

After-sales as earnings driver amid low valuation

Fair valuation despite FY22 high earnings quality

Valuation to improve on ODM business spin-off

1Q23 beat on better GPM; Maintain HOLD on fair valuation

–Positive on shipment recovery and upgrade trend; Maintain Hold on fair valuation

Solid margin and attractive valuation; wait for top-line recovery

China Banking Sector: Maintain OVERWEIGHT on valuation and positive outlook

银河娱乐 Valuation Rerating

Attractive valuation with likely resilient earnings

Lifting TP on adding major R&D valuation