China Merchants Bank International: Encouraged by FIT HON TENG's (06088) Accelerated Business Transformation in Q2, Raises Target Price to HKD 4.96

Stock News

Aug 15

China Merchants Bank International released a research report stating that FIT HON TENG's (06088) second quarter performance largely met the firm's expectations, with revenue and net profit rising 9% and 13% year-over-year respectively. The firm lowered the company's earnings per share forecasts for 2024 through 2027 by 5% to 15%, reflecting first-half performance, new business guidance, and projects secured. The target price was raised from HKD 3.48 to HKD 4.96, equivalent to 16 times next year's projected price-to-earnings ratio, consistent with the eight-year average, maintaining a "Buy" rating.

The firm expressed encouragement regarding management's indication that the company's business transformation accelerated in the second quarter, with strategic cloud and automotive segments accounting for 36% of quarterly sales, recording 28% and 115% year-over-year growth respectively. The firm noted that despite the company lowering guidance for smartphones, consumer internet, and system products based on tariff and macroeconomic uncertainties, it maintains a positive outlook for the company's 3+3 strategy performance in 2025 and 2027, driven by cloud and artificial intelligence server products and accelerated AirPod production.

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The firm lowered the company's earnings per share forecasts for 2024 through 2027 by 5% to 15%, reflecting first-half performance, new business guidance, and projects secured. The target price was raised from HKD 3.48 to HKD 4.96, equivalent to 16 times next year's projected price-to-earnings ratio, consistent with the eight-year average, maintaining a \"Buy\" rating.</p>\n<p>The firm expressed encouragement regarding management's indication that the company's business transformation accelerated in the second quarter, with strategic cloud and automotive segments accounting for 36% of quarterly sales, recording 28% and 115% year-over-year growth respectively. The firm noted that despite the company lowering guidance for smartphones, consumer internet, and system products based on tariff and macroeconomic uncertainties, it maintains a positive outlook for the company's 3+3 strategy performance in 2025 and 2027, driven by cloud and artificial intelligence server products and accelerated AirPod production.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0348766576.USD","symbol_name":"ALLIANZ LITTLE DRAGONS \"A\" (USD) INC","start_time":0,"source_url":"","article_id":"1180934842","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1180934842","pubTimestamp":1755247971,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"China Merchants Bank International released a research report stating that FIT HON TENG's (06088) second quarter performance largely met the firm's expectations, with revenue and net profit rising 9%...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0348766576.USD":"ALLIANZ LITTLE DRAGONS \"A\" (USD) INC","06088":"鸿腾精密","LU0348767384.USD":"ALLIANZLITTLE DRAGONS \"A\" (USD) ACC","BK1508":"富士康概念","BK1170":"电子元件","SG9999001069.SGD":"UOB UNITED ASIA PACIFIC GROWTH (SGD) ACC"},"translate_title":"招银国际：受飞度鸿腾(06088)Q2加速业务转型鼓舞，上调目标价至4.96港元","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"06088":1},"content_text":"China Merchants Bank International released a research report stating that FIT HON TENG's (06088) second quarter performance largely met the firm's expectations, with revenue and net profit rising 9% and 13% year-over-year respectively. 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