Movement Alert｜Iluvatar CoreX Rises 8.1% in Regular Trading, Multiple International Investment Banks Issue Buy Ratings Supporting Rebound Above Placement Price

Market Focus07-15 09:37

On July 15, Iluvatar CoreX rose 8.1% in regular trading, trading at HK$528.0/share, with turnover of HK$259 million. The stock rebounded strongly after briefly falling below its placement price of HK$476 on July 14.

On the news front, multiple international investment banks recently initiated coverage on the company with buy ratings. Bank of America Securities assigned a Buy rating with a target price of HK$1,013, projecting revenue CAGR of 145% from 2025 to 2028 and an adjusted net profit turnaround by 2026. Macquarie gave an Outperform rating with a target of HK$1,240, citing the company's leading position in domestic GPGPU development. JP Morgan raised its target price to HK$920 with an Overweight rating.

The company completed a placement of 14.857 million new H shares on July 13 at HK$476 per share, representing a 15% discount, raising net proceeds of approximately HK$7.034 billion. Following the placement, short-term dilution concerns had driven shares below the offering price, but the concentrated bullish coverage from major brokerages has helped restore market confidence.

(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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