Citigroup: Raising XINYI GLASS (00868) target price to HK$11.7 with cautious mid-term outlook.
The target price has been raised from HK$9.01 to HK$11.7. The company is still cautious about its mid-term prospects as the current soft real estate market continues to suppress its recovery prospects. Maintain a neutral rating.
Citibank released a research report stating that XINYI GLASS (00868) management expects the automotive glass revenue to achieve high single-digit year-on-year growth in 2026 during a conference call. The sales volume of float glass is expected to increase year-on-year under the background of industry consolidation, while revenue performance will depend on the trend of average selling prices. The target price of the company has been raised from 9.01 Hong Kong dollars to 11.7 Hong Kong dollars. The bank still maintains a cautious attitude towards the company's medium-term prospects, as the current soft real estate market continues to suppress its recovery prospects, and maintains a neutral rating.
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