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<Research> UBS Cuts ZTE (00763.HK) TP to HKD24.5, Rating Maintained at Neutral
Recommend 9 Positive 11 Negative 7 |
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UBS published a research report stating that ZTE (00763.HK) recorded revenue of RMB133.9 billion last year, up 10.4% YoY. Gross profit fell 11.9% YoY to RMB40.5 billion, below expectations. Net profit reached RMB5.6 billion, also missing expectations. The broker lowered its operator revenue forecasts for 2026 to 2028 by 8% to 9% and reduced consumer revenue forecasts by 7% to 10%, mainly due to weak customer demand. It also cut its net profit forecasts for 2026 to 2028 by 18% to 34%. The TP was lowered from HKD37.7 to HKD24.5, with the rating maintained at Neutral. (ca/u) This article was automatically translated by AI, the Chinese 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. Auto-translated by AI AASTOCKS Financial News |
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