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| HSCEI1 | 8,292.90 | -76.18 | 16.37B |
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YOFC Slumps 9% at Midday as UBS Cuts TP to HKD180, Reiterates Buy
2026-11-05 12:37:16 YOFC (06869.HK) closed at HKD99.8 at midday today (5th), down 9.11%, with turnover of 26.6316 million shares involving HKD2.712 billion. UBS published a research report reiterating the Buy rating on YOFC, but slightly adjusted earnings forecasts due to broad valuation declines in global AI stocks and fragile investor sentiment. The broker slashed the 12-month target price for the H shares by 45.5% from HKD330 to HKD180, while the A-share target price for YANGTZE OPTICAL FIBRE (601869.SH) was set at RMB290. The broker said global optical fiber prices have recently converged toward China levels, reflecting demand driven by global data center construction rather than being solely a China phenomenon, supporting demand sustainability. The broker slightly adjusted YOFC's earnings forecasts for 2026-28, ranging from a 5% cut to a 4% hike, and reduced the 2027E P/E for the H shares from 16x to 9x. ~ AASTOCKS Financial News Website: www.aastocks.com | |