Citi: Envicool Misses Earnings for Three Consecutive Quarters; Market May Overlook Risks Like Price Competition Under NVIDIA Halo Effect
Citi stated that Envicool's performance has missed expectations for three consecutive quarters, suggesting that the market's consensus earnings outlook is too high. The market only focuses on its supply of liquid cooling solutions for NVIDIA ASIC customers, while completely ignoring risks such as small business Market Exposure, intensifying domestic price competition, and pressure from future new entrants. Based on valuation factors, the company's target price was raised from 50 yuan to 60 yuan, and a sell rating was reiterated.
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