Citi: KB LAMINATES Raises CCL Prices, TP HKD43
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Citi's report indicates that KB LAMINATEShas increased the average selling price of copper clad laminates (CCL) by 10% to around RMB170 per sheet due to a shortage of glass fiber and rising copper costs. The company plans to issue an RMB8 billion syndicated loan to refinance an upcoming loan maturity and aims to build new production facilities for higher specification circuit boards. Citi has set a target price of HKD43 for KB LAMINATES, with a Buy rating, reflecting a forecast PE of 19x for next year.
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