​AIDC held an analyst meeting on Apr 22, with focal discussions on A-team 4.0 and trainer jet projects. We keep our 2016-17F earnings forecasts largely unchanged. We view current share price strength is mainly due to the news that AIDC’s ex-chairman will be the Minister of National Defense, and suggest investors accumulate on any share price weakness. . We like AIDC given the civil aircraft industry trend, the winning of trainer jet projects, and its current order backlog of over NT$100 bn. ...
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