Goldman Sachs lifts AVC target price to NT$4,736 but cuts 2026 profit estimate
Goldman Sachs raised its 12-month target price for Asia Vital Components (AVC) from NT$4,513 to NT$4,736 while keeping a "Buy" rating, but cut its 2026 net profit estimate by 1%, TechNews reported. The report cited rising memory costs weighing on consumer electronics demand and a transition between old and new AI server models as near-term pressure, while it lifted its 2027 profit forecast by 4% on higher liquid-cooling penetration and ramping ASIC customer models. Goldman expects AVC's fourth-quarter revenue to reach NT$68.057 billion, up 15% quarter on quarter and 42% year on year, and estimates NVL72-equivalent AI server rack shipments of 63,000, 110,000 and 164,000 units in 2026, 2027 and 2028.
Goldman based the higher target on 30.6 times its 2027 EPS estimate, reflecting its view that AI server liquid-cooling demand will drive AVC's medium- and long-term growth.
高盛最新研究報告雖將奇鋐 12 個月目標價由 4,513 元調升至 4,736 元，並維持「買進」評等，卻同步下修今年獲利預估。高盛指出，受到記憶體成本攀升壓抑消費性電子需求，以及 AI 伺服器新舊機種轉換影響，奇鋐短期營運仍面臨壓力，因此將 2026 年淨利預估下修 1%；不過，隨著 AI 伺服器液冷滲透率提升、ASIC 客戶新機種放量及產品組合改善，高盛同步上修 2027 年獲利預估 4%，看好奇鋐中長期成長動能。