Citic: Downgraded Changfei Fiber Optic Cable (06869.HK) rating to "fully valued", with target price raised to HKD 40.3

According to the Smart Financial APP, DBS released a research report stating that it has downgraded Changfei Fiber Optic Cable (06869.HK) from "buy" to "fully valued", with a target price raised from 20.2 HK dollars to 40.3 HK dollars, as the stock price has tripled in the past six months. The bank believes that the market has overreacted to the company's development. The report indicates that Changfei Fiber Optic Cable's revenue in the first half of 2025 increased by 19.4% year-on-year, mainly driven by overseas growth and rising demand for transmission products. Core net profit increased by 14.8%, which is lower than the market's expectation of around 30% for the full year.