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<Research>Citi Reduces LENS TP to HKD25, Sees 2026 as Transition Yr
Recommend 6 Positive 2 Negative 12 |
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LENS (06613.HK)'s 1Q26 results missed expectations, which management attributed to reduced purchases from customers due to rising memory prices, as well as foreign exchange losses, according to Citi's research report. Management expects the impact from foreign exchange to ease in the coming quarters. Meanwhile, iOS foldable models will begin to contribute revenue from May, and Android demand may recover in 2H26. In light of the 1Q26 results, Citi lowered its 2026 net profit forecast for LENS by 13% to RMB4.36 billion, while maintaining the 2027-28 earnings forecasts largely unchanged. Citi rated LENS as Buy but trimmed its target price from HKD27 to HKD25. Auto-translated by AI AASTOCKS Financial News |
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