ILUVATAR COREX's stock surged 5.12% during intraday trading on Wednesday, reflecting strong investor interest.
The rally follows Haitong International's initiation of coverage with an Outperform rating and a target price of 596.7 HKD. The bank highlighted the company as a pioneer in China's dual-line GPU domain, noting its DeepSpark ecosystem demonstrates core competitiveness and that the current share price offers a significant discount to potential valuation.
Additionally, Hang Seng Indexes announced that the stock will be included in the Hang Seng Composite Index effective June 8, making it eligible for Stock Connect inclusion. Analysts also point out that as a scarce domestic GPU stock listed in Hong Kong, Iluvatar CoreX trades at approximately 20x forward price-to-sales, well below the A-share peer average of approximately 56x, positioning it as an attractive vehicle for investors seeking China AI compute exposure without the A-share premium.
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