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06869 YOFC
RTNominal down13.400 -0.360 (-2.616%)
Research Report

18/03/2021 17:26

{I-bank focus}Goldman cuts YOFC (06869) to HK$16.1; "buy"

[ET Net News Agency, 18 March 2021] Goldman Sachs cut its target price for Yangtze
Optical Fibre and Cable (YOFC) (06869) to HK$16.1 from HK$18.7 and maintained its "buy"
rating, given its product mix improvement.
The research house factored in lower fiber pricing and margins for 2021/22 as it expects
the fiber cable price recovery will be more gradual than previously expected.
However, Goldman still expects prices to recover in 2022 and believes the key catalyst
to watch is the fiber cable tender (likely in 2H 2021), which could reset pricing. After
its estimate revisions, it expects net profit to recover by 54%/30% in 2021/22 from the
2020 trough. (KL)

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