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花旗:降德昌电机控股目标价至32港元 第三财季业绩略逊预期
Zhi Tong Cai Jing· 2026-01-23 07:13
Core Viewpoint - Citigroup's report indicates that the performance of Delta Electronics Holdings (00179) for the third quarter of fiscal year 2026 slightly missed expectations due to recent copper cost increases [1] Financial Performance - Citigroup has revised its earnings forecast for Delta Electronics Holdings down by approximately 5% for fiscal years 2026 to 2028 [1] - The target price has been adjusted from HKD 33 to HKD 32, maintaining a "Neutral" rating [1] - The company is expected to face short-term pressure on its stock price due to the underperformance [1] Business Segments - The company is involved in the AI liquid cooling pump and humanoid robot supply chain industries, which are considered overvalued [1] - Revenue contribution from these segments is projected to be only 1% in fiscal year 2026 and 3% in fiscal year 2027, with gross profit contributions of 2% and 6% respectively [1] - The contribution from these new business areas is expected to remain minimal for fiscal year 2027 [1]