0842 GMT - Kingboard Laminates' decline this month appears unjustified, Citi Research analysts write in a research note. November shipments were better than expected, with an estimated 9% on-month increase, and December shipments are likely to rise further, they say, citing industry checks. The analysts note that a significant share repurchase by the company's largest shareholder "should be a good indicator for the start of the copper-clad laminate upcycle." They maintain a buy rating with a target price of HK$11.50. Shares are down 1.2% at HK$6.64, bringing month-to-date losses to 10%. (ben.otto@wsj.com; @benottoWSJ)
(END) Dow Jones Newswires
December 19, 2024 03:42 ET (08:42 GMT)
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