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

　　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.)

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