1Q24 in line; Positive on AI server/networking and AirPods ramp-up in 2H24E

M N 13 May 2024 CMB International Global Markets | Equity Research | Company Update FIT Hon Teng (6088 HK) 1Q24 in line; Positive on AI server/networking and AirPods ramp-up in 2H24E Target Price HK$2.40 FIT Hon Teng posted a solid set of 1Q24 results, in-line with its positive profit (Previous TP HK$2.42) alert, and mgmt. reiterated its FY24E guidance (rev +low-double digit YoY, GP Up/Downside 23.1% +mid-double digit YoY, OPM 5.5%) in earnings call. After hosting post-results Current Price HK$1.95 NDR call ...