0255 GMT - KCE Electronics' earnings outlook is likely to remain cloudy in 4Q, UOB Kay Hian analysts say, noting that the company forecasts a 5%-7% on-quarter revenue drop in U.S. dollar terms. That is mainly because of factors including weaker demand from the automotive sector, which is affecting multilayer products, and machinery-replacement efforts that continue to strain production capacity, the analysts say in a research report. The brokerage cuts its 2024 and 2025 net profit projections for the Thai printed-circuit-board manufacturer by 5% and 10%, respectively. It also lowers the stock's target price to THB28.00 from THB30.00, with an unchanged hold rating. Shares closed 0.9% higher at THB27.75 on Wednesday. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 20, 2024 21:55 ET (02:55 GMT)
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