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Citigroup Lifts Kingboard Laminates Target Price to HK$95

Citigroup logoCitigroup
Sig1.65Sen+3.90Env0.00Soc0.00Gov0.00

Citigroup raised its target price for Kingboard Laminates to HK$95, boosting the shares by more than 8% early Tuesday before easing to 5.53% at HK$37.04. The move followed strong results with first-half revenue of HK$14.9 billion and net profit attributable rising 209.28%, plus an interim dividend of HK28 cents. The electronic glass fiber cloth shortage is worsening, with record July profit and rising laminate prices.

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