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<Research>CMBI: FIT HON TENG Raises Guidance on Strong AI Server Outlook; TP Raised to HKD7.42
Recommend 6 Positive 6 Negative 6 |
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CMB International (CMBI) released a research report on FIT HON TENG (06088.HK), which logged a 12% YoY hike in revenue to USD5 billion for FY25, roughly in line. However, net profit grew by only 2% YoY to USD156 million, which was 8% and 12% below the broker's forecast and market consensus, respectively, owing to higher effective tax. During the broker's post-results NDR call, management reiterated a positive view for the cloud and data center business, which benefited from large-scale AI server upgrades and the forecasted mass production of new products from 2026 to 2028. Management guided a 70% YoY surge in cloud and data center revenue for 2026 and raised the guidance for the cloud revenue share from 2026 to 2028. The broker largely maintained its earnings forecast and raised the target price from HKD7.33 to HKD7.42. The rating remained Buy. AASTOCKS Financial News Website: www.aastocks.com |
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