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<Research> Nomura Lifts YOFC (06869.HK) TP to HKD266, Rating Buy
Recommend 15 Positive 23 Negative 14 |
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Nomura issued a research report raising YOFC (06869.HK)'s TP from HKD64.5 to HKD266, maintaining a Buy rating. The upgrade is mainly driven by robust demand for AI data centers boosting global optical fiber demand, as well as a shortage of optical fiber preform capacity that has led to a surge in spot fiber prices over the past five to six months. The broker expects centralized tenders from mainland telecom operators to serve as the next catalyst, with new long-term agreement prices likely to improve earnings outlook in 2H26 and 2027. Nomura raised its 2026-2027 revenue forecasts for YOFC by 74% to 115% to reflect growth in data center demand and sharp increases in fiber prices. Earnings forecasts for the period were lifted by 293% to 351%. The broker expects AI network business revenue contribution to reach 31% and 38% in 2026 and 2027, respectively. It also forecasts 2028 revenue and earnings to grow 31% YoY and 36% YoY, respectively. (ec/da) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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