Foxconn Industrial Internet's Shares Have Likely Bottomed Out -- Market Talk

Dow Jones2023-12-18

0607 GMT - Foxconn Industrial Internet's shares have likely priced in the negatives and could rerate thanks to its adoption of new AI applications, Citi analysts say in a research note. After the shares' recent correction, the analysts reckon the market seems to have discounted potential risks to the company's valuations. Meanwhile, AI could continue to enjoy a valuation premium amid a limited number of attractive themes in the A-share market, they say. They expect AI to contribute 15% of the company's revenue and 9% of its gross profit in 2024. Citi upgrades Foxconn Industrial Internet to buy from neutral given the potential resurgence of investor interest in AI. Shares are last 2.4% higher at CNY15.14. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

December 18, 2023 01:07 ET (06:07 GMT)

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They expect AI to contribute 15% of the company's revenue and 9% of its gross profit in 2024. Citi upgrades Foxconn Industrial Internet to buy from neutral given the potential resurgence of investor interest in AI. Shares are last 2.4% higher at CNY15.14. 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After the ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK0214","symbol_name":"IT设备","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2392953704","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2392953704","pubTimestamp":1702879620,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0607 GMT - Foxconn Industrial Internet's shares have likely priced in the negatives and could rerate thanks to its adoption of new AI applications, Citi analysts say in a research note. 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