Deutsche Bank Reiterates Buy Rating on Amkor Technology (AMKR)

After solid earnings, Deutsche Bank reiterated its Buy rating on shares of Amkor Technology AMKR today. Deutsche Bank maintains an $8 price target on Amkor Technology. Amkor reported 2Q10 results that exceeded guidance and Street forecasts, with revenue setting a new quarterly record. Deutsche Bank raised its FY10 earnings estimate. Deutsche Bank concedes that "While industry capital intensity is relatively high and raises fear of over-capacity, we believe that present level of investments remain consistent with past under investments and support a moderate growth outlook." Deutsche Bank analysts "believe Amkor’s recent improvements should start to narrow the valuation gap with peers." Amkor Technology, Inc. is subcontractor of semiconductor packaging and test services. Shares are 5% higher today, to $6.11.