Movement Alert｜VGT Rises 4.76% in Regular Trading, JPMorgan Reiterates Overweight Rating as Equity Incentive Plan Boosts Confidence

Market Focus07-23

On July 23, VGT rose 4.76% in regular trading, trading at 234.0 HKD/share, with turnover of 41.189 million HKD.

On the news front, JPMorgan recently reiterated its Overweight rating on the company with a target price of 500 HKD, arguing the market has overreacted to short-term headwinds. The bank noted the current share price has already pulled back over 50% from its May peak, fully pricing in uncertainties, and expects accelerating earnings growth in the second half to serve as a catalyst.

Simultaneously, the company announced a restricted A-share incentive plan granting up to 4.8624 million shares to 1,545 employees at 155.94 yuan per share, alongside an employee stock ownership plan raising up to 700 million yuan. Performance targets require net profit growth of no less than 40% in the current year and 174.4% by 2028, signaling management confidence in sustained high growth. Additionally, the broader PCB sector continues to recover, with copper clad laminate and upstream electronic cloth prices rising in tandem, supporting improved industry sentiment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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