KINGBOARD HLDG's stock soared 5.50% in early intraday trading on Monday, following a bullish research report from Citigroup.
Citigroup increased its profit forecasts for KINGBOARD HLDG for 2026 to 2028 by 50% to 61% and raised the target price from HK$48 to HK$65. The bank cited shortages in glass fiber, copper foil, and copper-clad laminate (CCL) driven by the investment surge in AI infrastructure as key reasons for the upgrade. The report also noted that KINGBOARD HLDG's profit structure is expected to tilt increasingly toward its laminate board business, with this segment's contribution to net profit projected to surge from 38% in 2025 to 87% by 2028.
Citigroup reiterated a "Buy" rating on the stock, suggesting it presents a catch-up opportunity for investors who missed the rally in related companies, further boosting market sentiment.
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