Citigroup: Raises the target price of Kingboard Laminates Holdings (01888.HK) to HK$120, copper clad laminate June average price increase exceeds expectations.

According to the Zhtng Finance and Economics APP, Citigroup released a research report stating that Jinto laminates (01888.HK) plans to raise the average selling price of copper clad laminates (CCL) and semi-cured sheets (prepreg) by 15% starting from June 16, exceeding the 10% inflation rate of copper clad laminates from January to May this year. This move is mainly in response to the larger price increase of electronic glass cloth in June, ranging from 0.70 to 0.95 RMB per meter. Citigroup has raised the target price of Jinto laminates by 20% to 120 HKD (originally 100 HKD) to reflect the positive impact of the price increase. The target price-to-earnings ratio has been adjusted from the previous 25 times to 29 times the expected earnings ratio for 2027, maintaining a "buy" rating.