Citigroup: Lower CRYSTAL INTL (02232) target price to 8.2 Hong Kong dollars. Rating is "Buy".
This move lowers the company's profit forecast for 2026 to 2027 by 6% to 8%.
Citi released a research report stating that CRYSTAL INTL's performance last year largely met expectations, with revenue and net profit reaching $2.64 billion and $225 million respectively, an increase of 6.9% and 12% year-on-year. The company's profit forecast for 2026 to 2027 was lowered by 6% to 8%, with the target price reduced from HK$8.5 to HK$8.2, and a "buy" rating was given.
The company expects a mid to high single-digit growth in production this year, slightly lower than expected. However, the bank believes that CRYSTAL INTL can achieve its high single-digit target with confidence, as long as the company can improve operational efficiency, it will do everything possible to exceed the high single-digit target.
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