Market Insight

2024.04.26 11:28

Research Reports Goldman raises HISENSE HA (00921) target price to $31

(Infocast News) Goldman raised its target price to HK$31 (from HK$30) on HISENSE HA (00921) and maintained Buy rating. Hisense reported above-expected 1Q24 results with faster revenue growth and in-line, strong recurring profit growth. Total revenue/net profit in 1Q24 were Rmb23,486mn/Rmb981mn, growing 21%/59% yoy, +4%/+30% vs. GSe. Topline growth was slightly ahead of its prior estimates and the net profit beat was attributable to a combination of improving GPM/OPM, and higher non-recurring items, incl. short-term investment/FX gain and tax rebate. (WL)

Data Source：INF