Lyon: Raises target price of TCL ELECTRONICS (01070) to 16 Hong Kong dollars, rating "Outperform" against the market.
TCL Electronics (01070) subsidiary has established a joint venture with Sony, purchasing 100% of Sony Electronics shares for 75.4 billion yen, with TCL holding a 51% stake.
Lyon released a research report, stating that TCL ELECTRONICS (01070) subsidiary has formed a joint venture with Sony, acquiring 100% of Sony Electronics for 75.4 billion yen. TCL ELECTRONICS holds 51% of the shares. The transaction will be completed in 2027, and Sony will have the right to sell at the third, sixth, and ninth year. The bank believes this will be a strong cooperation. The bank also mentioned that they have raised their profit forecast for TCL ELECTRONICS for this year and next year by 8%, and revised their target price from 13 Hong Kong dollars to 16 Hong Kong dollars, maintaining their rating as outperforming the market.
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