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<Research>Citi Cuts VTECH HOLDINGS TP to HKD62, Rating Buy
According to Citi's research report, VTECH HOLDINGS (00303.HK)'s net profit for the fiscal year ended March fell by 5.9% to USD156.8 million, around 13% lower than the brok...
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<Research>Citi Cuts VTECH HOLDINGS TP to HKD62, Rating Buy
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According to Citi's research report, VTECH HOLDINGS (00303.HK)  -0.600 (-1.148%)    Short selling $4.96M; Ratio 32.784%   's net profit for the fiscal year ended March fell by 5.9% to USD156.8 million, around 13% lower than the broker's forecast of USD179.6 million.

The broker attributed the worse-than-expected results to (1) the inventory backlog before the US Independence Day pushing up manufacturing costs and direct labor expenses; and (2) the acquisition of Gigaset leading to higher operating expenses and tax rates.

Related NewsCiti Lists H-shrs w/ US Exports (Table)
Accordingly, Citi lowered its FY26-27 earnings forecasts for VTECH HOLDINGS by 23-24% and introduced a forecast for FY28. It also cut its target price from HKD65 to HKD62 and maintained the Buy rating referencing historical averages and a dividend yield of 7-8% for FY26.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-16 12:25.)

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