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<Research>CMBI Trims FIT HON TENG's TP to $3.48 as 1Q25 Results Miss, Mgmt Lowers Guidance
Recommend 5 Positive 7 Negative 4 |
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Due to a drop in its GPM and adverse currency movements, FIT HON TENG (06088.HK) reported a 14% YoY increase in its 1Q25 revenue and a 38% YoY decline in its net profit, both missing expectations, according to CMBI's report. In light of the impact of US tariffs and macroeconomic uncertainties, FIT HON TENG's management revised down the company's revenue guidance for smartphone/ system products to a 15% YoY decrease/ a YoY increase or decrease of 5%. The company also guided for higher operating expenses to restructure the global supply chain. Accordingly, CMBI lowered its 2025-26 EPS forecasts for FIT HON TENG by 10-18% to reflect its 1Q results and lowered guidance. The broker kept a Buy rating on the company but cut its target price from $3.86 to $3.48. AAStocks Financial News |
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