In a research note published this morning, the analyst mentions that the company is expected to commence the construction of a new TFT substrate furnace in its Takasago factory in July.The total annual capacity of the furnace would be 4 million square meters and the project would require ¥25 billion in capex, the analyst says. The addition of this furnace would increase Asahi Glasss total production capacity to 26 million square meters per year by the end of 2006, Morgan Stanley adds.
Analyst Lalita Gupta of Morgan Stanley maintains her "equal weight" rating on Asahi Glass. The target price is set to ¥1,160.
2005-06-16T13:00:00Asahi Glass "equal weight" glassonweb.com