Citi Cuts VTECH HOLDINGS TP to HKD69; 2H FY26 Results Miss
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Citi has cut its target price for VTECH HOLDINGS from HKD76 to HKD69, citing a 16-17% reduction in FY2027-28 EPS forecasts due to weaker 2H FY2026 performance. The earnings miss is linked to US tariffs and declining CMS sales. Despite challenges, management expects revenue growth in FY2027, though gross margins may be pressured. Citi views the current share price as a buying opportunity, projecting a 7% dividend yield for FY2027.
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