UBS has released a research report indicating that despite MONTAGE TECH's strong post-Lunar New Year stock performance, which saw a 52% increase, and a current valuation equivalent to 58 times 2027 price-to-earnings ratio, the bank still finds the stock attractive. This is based on a dynamic P/E ratio of 1.3 times relative to an expected 45% compound annual growth rate in earnings per share from 2027 to 2030. With multiple structural growth drivers emerging, UBS has raised its target price for MONTAGE TECH from HK$237 to HK$380, equivalent to a blended forward P/E ratio of 70 times, up from 54 times previously. The bank reaffirmed its "Buy" rating. UBS also increased its revenue forecasts for MONTAGE TECH’s memory and PCIe interconnect segments for 2027 and 2028 by 14% and 30%, respectively, raising the estimates to RMB 8.1 billion and RMB 11.8 billion. Additionally, the bank raised its 2027 and 2028 PCIe interconnect revenue projections by 19% and 40%, to RMB 2.3 billion and RMB 3.7 billion, respectively. These adjustments are primarily based on better-than-expected first-quarter gross margins, stronger server CPU prospects driven by Agentic AI—significantly boosting memory interconnect chip shipments—accelerated localization of AI accelerators in China, and the company's progress in PCIe Gen6 Retimer and PCIe Switch research and development.