Stock Track | Q TECH Plummets 6.78% Intraday After Citigroup Downgrades to 'Neutral' and Slashes Target Price

Stock Track03-17 14:12

Q TECH's stock price plummeted 6.78% during intraday trading on Tuesday, following a significant analyst downgrade.

The sharp decline came after Citigroup released a research report downgrading Q TECH's rating from "Buy" to "Neutral" and cutting its target price from HK$12 to HK$9. The bank cited headwinds in the smartphone business as the primary reason, lowering its earnings per share forecasts for 2026 and 2027 by 39% and 33%, respectively.

While the report noted that Q TECH's performance last year was in line with forecasts and that the non-handset business provides some offset, the substantial reduction in earnings expectations and target price triggered the selloff. The company's management has guided for growth in certain camera module segments, but this was insufficient to counter the negative sentiment from the downgrade.

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