UBS has released a research report stating that despite MONTAGE TECH's (06809) strong stock performance after the Lunar New Year, with gains reaching 52%, and its current valuation equivalent to a 2027 price-to-earnings ratio of 58 times, the bank still finds it attractive when considering a dynamic P/E ratio of 1.3 times relative to a projected compound annual growth rate of 45% 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, which equates to a consolidated forward P/E ratio of 70 times, up from the previous 54 times, and reaffirmed its "Buy" rating.

The bank has increased its revenue forecasts for MONTAGE TECH's memory and PCIe interconnect segments for 2027 and 2028 by 14% and 30%, respectively, raising them to RMB 8.1 billion and RMB 11.8 billion. Additionally, it has raised its 2027 and 2028 PCIe interconnect revenue estimates by 19% and 40%, respectively, to RMB 2.3 billion and RMB 3.7 billion.