[ET Net News Agency, 27 August 2018] Citi Research trimmed its target price for
Kingboard Holdings (KB)(00148) to HK$40.5 from HK$42, and maintained its "buy" rating.
The research house said KB's 1H core earnings of HK$2.598bn and turnover of HK$22bn are
largely in line with its forecasts.
But Citi cut its 2018-20 earnings estimates by 4-10% due to the recent retreat of most
chemical prices including acetic acid, caustic soda, phenol, acetone and methanol amid a
slowdown macro on China's de-leverage and more stringent environmental requirements
pushing KB's downstream customers to stall in chemical segment operations.
Citi forecast 2H earnings to increase 6% HoH to HK$2.74bn since the weakness of laminate
segment would be more than offset by strong margin expansion of chemical segment and solid
rev growth of PCB segment. (KL)
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00148 KINGBOARD HLDG
Nominal 
14.720 -0.200 (-1.340%) Others
27/08/2018 15:36
[I-bank focus]Citi cuts Kingboard Holdings to HK$40.5
| Remark: | Real time quote last updated: 19/04/2024 16:48 |
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