＜Research＞CICC Raises FIT HON TENG (06088.HK) TP to $3.62 as AI Server Connectivity Solution, New Headphone Products Launch on Schedule

AASTOCKS

2024-07-09 15:01

FIT HON TENG (06088.HK) announced its 1H24 results forecast expecting net profit to range from US$28 million to US$33 million in 1H24, compared to a n...

　　FIT HON TENG (06088.HK) +0.640 (+20.984%) Short selling $22.41M; Ratio 7.492% announced its 1H24 results forecast expecting net profit to range from US$28 million to US$33 million in 1H24, compared to a net loss of US$9 million in 1H23, representing a turnaround from a loss YoY, CICC issued a research report saying.

　　CICC believed that the Company's 1H24 results forecast is basically in line with expectations.

　　Related NewsFIT HON TENG Foresees 1H24 to Post Profit Max. US$33M

　　CICC kept rating at Outperform on FIT HON TENG, and believed that 2024 R&D investment will drive the Company's AI connectivity products and introduce headphone products to big customers in 2025, which will enhance the Company's valuation level to a certain extent.

　　CICC switched the valuation to 2025, and raised its target price by 46% to $3.62.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-09 12:25.)

　　AAStocks Financial News

Disclaimer:The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.