Asetek released a guidance upgrade last night. The company now expects revenue growth of 25-35% (previously 5-15%) and EBIT of USD 5-7m (previously USD 2-4m). The guidance upgrade is significant. Applying the mid-point of the new guidance range, our EBIT estimates would increase by 70%+ for 2023. The shares are likely to outperform today on the back of this massive profit upgrade.

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