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Research Report

02/03/2021 17:34

CMBIS trims FIT Hon Teng (06088) to HK$3.63; "buy"

[ET Net News Agency, 2 March 2021] CMB International Securities (CMBIS) trimmed its
target price for FIT Hon Teng (06088) to HK$3.63 from HK$4.1 and maintained its "buy"
FIT issued a profit warning for FY2020. The research house believes recent 30% stock
correction has priced in FY2020 weakness, and strong PC WFH (work from home) demand,
Belkin's new TWS (true wireless stereos)/wireless products, and EV momentum will drive
earnings recovery of 76%/16% in FY2021/22.
CMBIS also expects FIT to accelerate 5G/smart home product launches, such as 5G handset
antenna, backplanes in base stations. In particular, it expects a better revenue mix with
fewer iPhone earphone/optical modules will boost profitability and drive earnings recovery
in FY2021. It expects FIT's earnings to rebound 76%/16% in FY2021/22. (KL)

Remark: Real time quote last updated: 20/10/2021 17:59
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