On June 10, Johnson Electric Holdings fell 5.24% in regular trading, trading at 22.0 HKD/share, with trading volume of 68.28 million HKD. The stock has now breached JPMorgan's target price of 22 HKD, which was issued alongside a maintained \"Neutral\" rating.
The decline was driven by a deep correction across the Auto Parts & Equipment sector. Among sector peers, SEYOND plunged 25.84%, MINTH GROUP dropped 7.91%, HESAI-W fell 6.05%, and FUYAO GLASS declined 4.25%, reflecting broad-based selling pressure in the industry.
Fundamentally, the company previously issued a profit warning indicating full-year attributable net profit would decline approximately 21% to 25% year-over-year, following its annual results announced on May 28 which showed shareholder profit fell 23% to USD 202 million. Margin compression combined with limited near-term visibility in the auto market, as flagged by JPMorgan, has sustained bearish sentiment and accelerated selling as the stock broke below institutional target levels.
(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.)
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