UBS upgraded Amkor Technology (AMKR) to Buy from Neutral. The investment bank raised its price target for the stock to $90 from $80.
The upgrade follows a stronger outlook for advanced semiconductor packaging within the artificial intelligence sector. UBS highlighted Amkor's growing exposure to the server CPU market and advanced packaging opportunities.
This positive shift coincides with a major partnership between Amkor and Nvidia. The new rating addresses previous investor concerns regarding high capital expenditures for Amkor's new Arizona facility.