KCE Electronics Faces Earnings Hit From Product-Delivery Delay, Other Headwinds -- Market Talk

Dow Jones07-10

0210 GMT - KCE Electronics faces an earnings hit from delays in deliveries of its products and other headwinds, Thanachart Securities analyst Pattadol Bunnak says in a research report as the brokerage downgrades the stock to hold from buy and lowers the target price to THB45.00 from THB48.00. These delays are caused by a global shortage of container ships amid attacks on vessels in the Red Sea, the analyst says. Another headwind is rising prices of copper, a key raw material for the manufacturer of printed circuit boards, the analyst says. Also, given the Thai company's high exposure to U.S. and European automakers, there is some risk of more intense competition from cheaper electric-vehicle makers, the analyst adds. Shares are last quoted at THB46.25. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 09, 2024 22:10 ET (02:10 GMT)

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