RHB raises Kelington target price to RM10.50 on AI chip demand

The Malaysian semiconductor equipment maker is seen as a key beneficiary of the global AI infrastructure build-out, according to the broker.

By Handelsavisen Newsroom · Automated 6 August 2026, 03:07 UTC · 1 min read

RHB Research has lifted its price target for Kelington Group Bhd to RM10.50 from RM9.10, maintaining a "Buy" rating on the stock.

The Malaysian brokerage cited the company's strong positioning to capitalize on the ongoing investment boom in artificial intelligence-driven semiconductor manufacturing.

Kelington, a provider of semiconductor equipment and services, is viewed by analysts as a direct beneficiary of the capex cycle sweeping through the chip sector.

The upgrade in the target price reflects growing confidence in the firm's revenue visibility as global foundries and memory makers expand capacity to meet surging demand for AI compute hardware.

The move aligns with broader sentiment in the Malaysian semiconductor cluster.

Hong Leong Investment Bank recently declared that the global supply chain has entered a full recovery phase in 2026, driven by relentless demand for AI infrastructure.