[ET Net News Agency, 10 July 2020] CMB International Securities (CMBIS) raised its
target price for FIT Hon Teng (06088) to HK$4.16 from HK$2.64 and maintained its "buy"
rating.
The research house believes FIT's 1H profit warning is largely expected, due to 1Q net
profit decline of 98% on production shutdown, and weak consumer demand, given major cities
lockdown in 2Q.
CMBIS lowered its FY2020-22 EPS forecasts by 6-36% to reflect 1H profit warning and
project delays. In the longer-term, CMBIS believes Belkin's improving operating leverage
and iPhone shipment recovery will drive earnings in FY2021/22. It now estimated FIT's
revenue/net profit recovery to 5%/6% in 2H. (KL)
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06088 FIT HON TENG
Nominal 
2.070 +0.090 (+4.545%) Others
10/07/2020 16:55
CMBIS raises FIT Hon Teng (06088) to HK$4.16; "buy"
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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