0159 GMT - KCE Electronics' business momentum likely remains weak due to multiple headwinds, says Thanachart Securities' Pattadol Bunnak in a research report. The brokerage cuts its target price on the stock to THB24.00 from THB34.00 while maintaining a hold rating. The printed-circuit-board maker's 4Q earnings likely dropped 25% on year due to weak car sales and intense competition, the analyst notes. Challenges include sluggish global car sales, declining market share of European auto brands-KCE's key focus-and competition from Chinese PCB producers. While transitioning to more automated operations, the company has experienced production halts, with potential disruptions extending into 1H 2025, the analyst adds. Shares closed at THB22.40. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 20:59 ET (01:59 GMT)
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