CPU package substrate expansion to accelerate profit growth; Buy, PO ¥26,400 Accessible version Ibiden (4062) Reiterate Rating: BUY | PO: 26,400 JPY | Price: 21,580 JPY Reiterate Buy, raise PO to ¥26,400 Following strong 1Q FY3/27 results, we raise our earnings forecasts for Ibiden (FY3/27 operating profit [OP]: from ¥98.7bn to ¥133.9bn; FY3/28 OP: from ¥162.5bn to ¥190.3bn). Accordingly, we raise our PO from ¥23,900 to ¥26,400. We reiterate our Buy rating. The basis for our PO remains unchanged at a P/E of ...