ZTE Corporation Rises Over 5% as Brokers Say 1QYY Revenue In Line but Earnings Miss
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ZTE Corporation's stock rose over 5% following the announcement of its 1QYY results, which showed operating revenue of RMB34.989 billion, a 6.1% YoY increase, but a net profit drop of 46.6% YoY to RMB1.31 billion. Analysts from G Sachs and Citi noted that while revenue met expectations, net profit fell short, leading to a maintained "Neutral" rating and adjusted target prices. G Sachs cut its target price by 7% to HKD37.5, while Citi set it at HKD25.4.
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