CLSA Upgrades BIREN TECH TP to HKD67.4; Optimistic on Product Pipeline and Delivery Capability
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CLSA has upgraded BIREN TECH's target price to HKD67.4, citing optimism about its product pipeline and delivery capabilities. The report highlights the ongoing computing power shortage in China, which is expected to benefit BIREN TECH. The company’s BR10X product has seen large-scale deployment, while the upcoming BR20X series aims for completion in 3Q26. CLSA has increased revenue forecasts for fiscal 2026 and 2027 by 10% and 32%, respectively, and raised the average price-to-sales multiple for 2026/27 to 28x.
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