GO
| HSI1 | 24,253.70 | +42.35 | 86.16B |
| HSCEI1 | 8,149.99 | +2.12 | 23.86B |
| Back Zoom + Zoom - Block Traded | |
|
JOHNSON ELEC H Once Plunges 20%+ as Citi Downgrades Stock to Sell and Axes TP to HKD14.6
2026-10-12 11:06:48 JOHNSON ELEC H (00179.HK) issued a profit warning, dragging its share price sharply lower today (12th). After opening down 10.76%, the downfall sharpened to as much as 21.8%, hitting a near one-and-a-half-year trough of HKD13.23. The stock last traded at HKD14, down 17.26%, with 13.7448 million shares traded, involving turnover of HKD191 million. JOHNSON ELEC H expected profit for the six months ended September to range between USD50 million and USD58 million, representing a YoY decline of 56-62%. The profit drop was mainly attributable to FX-related impacts, while total turnover was expected to remain broadly flat YoY. Given weaker-than-expected margin prospects, Citi cut its FY2027-29 earnings forecasts by 21-37%, and said market expectations for its FY2027 and FY2028 full-year forecasts appeared too high, with its earnings forecasts 43% and 38% below consensus respectively. Citi axed the TP by 25.5% from HKD19.6 to HKD14.6 and downgraded the stock from Neutral to Sell. The broker preferred TSUGAMI CHINA (01651.HK) in China's industrial automation supply chain and reiterated its pair trade recommendation of long TSUGAMI CHINA and short JOHNSON ELEC H. ~ AASTOCKS Financial News Website: www.aastocks.com | |