Stock Track | Kingboard Holdings Soars 6.72% Intraday on Citigroup Target Price Hike and Significant Shareholding Activity

Stock Track06-12

KINGBOARD HLDG's stock soared 6.72% during intraday trading on Friday, reflecting strong investor interest in the company following positive developments.

The surge comes after Citigroup raised its target price for Kingboard Holdings from HK$65 to HK$90 while reiterating a "Buy" rating. The bank has increased its profit forecasts for 2026 through 2028 by 34% to 53%, primarily driven by better-than-expected price increases for electronic glass fabric from Kingboard Laminates. Citigroup views the company's current trading below its book value as unwarranted and has reaffirmed its positive recommendation following recent share price corrections.

Additionally, significant shareholding activity was recorded, with a total value of HK$4.247 billion in shares transferred, representing 4.21% of the company's issued share capital. The bank's valuation, based on a sum-of-the-parts approach, anticipates a 2027 price-to-earnings ratio of approximately 10 times, with about 85% of the group's core net profit expected to come from its laminates/printed circuit board business by 2028.

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