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Goldman Sachs: Raises AAC TECH's Target Price to 59 HKD, maintains Buy rating.
Goldman Sachs released a Research Report stating that it has raised the Target Price for AAC TECH (02018) Listed in Hong Kong from HKD 54 to HKD 59, maintaining a "Buy" rating. Goldman Sachs expects its net profit guidance for the fiscal year 2024 to reach between RMB 1.7 billion and RMB 1.8 billion, with a year-on-year increase of 130% to 145%; the midpoint net profit is RMB 1.22 billion, exceeding the bank and market expectations by 14% and 7% respectively. Goldman Sachs believes that the net profit exceeds expectations due to a better product mix leading to a gross margin higher than expected, as well as improvements in operating expenses due to increased efficiency. The bank expects that the growth in content scale and incremental revenue from new Business will drive AAC TECH.
The CEO of the Russian sovereign wealth Fund may join the Riyadh talks between Russia and the United States.
According to reports from TASS, Russian presidential advisor Yuri Ushakov stated that Kirill Dmitriev, the CEO of the Russian Direct Investment Fund (RDIF), may participate in the Riyadh talks as part of the Russian delegation to discuss economic issues. It is reported that Russian President Putin has formed a heavyweight negotiation team to discuss the Ukraine issue with the USA, which includes financier Dmitriev, who studied at Stanford and Harvard; after working at McKinsey and Goldman Sachs, Dmitriev returned to Russia to lead a private...
Express News | Kayali Founder Mona Kattan to Jointly Own Kayali With General Atlantic
Express News | Dubai's Huda Beauty to Sell Kayali Fragrance
Express News | With General Atlantic Investment, Kayali to Operate as Independent Company, Mona Kattan to Remain as CEO
Goldman Sachs: Downgraded HUA HONG SEMI rating to 'Neutral' and lowered Target Price to 31 HKD.
Goldman Sachs has released a research report stating that based on last year's performance, the rating for HUA HONG SEMI (01347) has been downgraded to "Neutral", and the target price has been lowered to 31 Hong Kong dollars. The earnings per share forecasts for 2025 to 2029 have been reduced by 1%, 1%, 3%, 3%, and 3%. Considering that the company's management has revealed that the second 12-inch wafer factory is expected to begin mass production in 2025, and that the company's capacity utilization for the fourth quarter of 2024 is already close to 100%, the capacity expansion plan is expected to support the company's long-term growth. However, in the short term, the company's performance will still be affected by price pressure on China's mature process nodes and the newly built factories starting production this year.
