Key Takeaways:
KB Laminates (01888.HK) surged nearly 7% to a record high after Citigroup raised its price target on the company to HKD66.
Citi raised its earnings forecasts for 2026-28 by 16-24%, citing a faster-than-expected rise in the average selling price (ASP) of electronic-grade fiberglass cloth, according to its research report. The bank maintained its Buy rating on the stock.
The new price target of HKD66 represents a 29.4% increase from the previous target of HKD51 and implies a 20.9% upside from the stock's last price of HKD54.6. Shares peaked at a record HKD55.95 during the session on turnover of HKD1.46 billion.
The price action suggests investors are betting on sustained margin improvement for the world's largest maker of copper-clad laminates. Citi's report notes that the price of copper-clad laminate (CCL) itself is expected to increase next month, providing a potential further catalyst.
The upgrade from a major investment bank could lead to sustained investor interest and further upward momentum for KB Laminates. Investors will be closely watching for official company announcements on CCL price hikes next month to confirm the trend. This may also draw attention to other companies in the sector.
This article is for informational purposes only and does not constitute investment advice.
