LK Technology Likely to Expand Mega Die-Casting Machine Business -- Market Talk

Dow Jones07-04

0646 GMT - LK Technology Holdings is likely to expand its mega die-casting machine business to commercial-vehicle clients, based on the company's comments, Daiwa Capital Markets analysts say. The brokerage maintains the stock's buy rating. The Chinese maker of die-casting machines mentioned that it's in talks with a CV manufacturer regarding the application of a 20,000-ton die-casting machine to make a single-piece die-casting chassis, which would extend beyond its current passenger-vehicle scope, the analysts note in a research report. However, the brokerage trims the stock's target price to HK$6.00 from HK$7.00 based on FY 2025 EPS instead of EPS average over FY 2024-2025. Shares are 0.6% higher at HK$3.44. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 04, 2024 02:46 ET (06:46 GMT)

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