Sunevision Flattish Earnings May Persist Through Fiscal 2H -- Market Talk

Dow Jones03-01

0509 GMT - Sunevision Holdings' may see the trend of higher revenue and flattish earnings continuing through its fiscal 2H but its outlook has improved with demand coming through, says Deutsche Bank analyst Peter Milliken in a note. The data center provider's 16% rise in fiscal 1H revenue was offset by a near tripling in finance costs, he notes. However, Deutsche Bank raises the stock's rating to buy from hold as it considers the stock oversold on gearing concerns which should decline soon. Other tailwinds include robust demand for IDC space in Hong Kong with multiple cloud players taking up more of the company's space. The bank maintains its HK$4.00 target price on the stock, which was last at HK$2.61. (monica.gupta@wsj.com)

(END) Dow Jones Newswires

March 01, 2024 00:09 ET (05:09 GMT)

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Other tailwinds include robust demand for IDC space in Hong Kong with multiple cloud players taking up more of the company's space. The bank maintains its HK$4.00 target price on the stock, which was last at HK$2.61. 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