-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师的观点总结如下：我们将目标价上调10美元至62美元，基于我们新近设定的2028财年（6月）每股收益预期7.79美元，市盈率为8倍，低于AVT过去三年和五年的平均市盈率9-10倍。鉴于AVT公布的3月季度业绩强于预期，且半导体分销周期出现积极转机，我们将2026财年的每股收益预期从4.55美元上调至4.82美元，并将2027财年的每股收益预期从6.09美元上调至6.57美元。我们认为，公司持续向低利润率的亚洲市场（目前占销售额的49%）转型，对盈利能力构成结构性阻力，因此我们给予的市盈率折让是合理的。此外，持续的行业竞争和地缘政治风险也令我们对公司前景持谨慎态度。虽然我们认识到人工智能需求和数字投资带来的利好因素，但我们认为近期的高增长期以及管理层对内存价格持续大幅增长的预期是不可持续的，我们预计在 2027 财年至 2028 财年将回归更加正常的增长轨迹。
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