HK Stock Market Move | KINGBOARD HLDG(00148) rises over 5% to a new high, Citigroup believes its current valuation is not reasonable and raises target price to 65 Hong Kong dollars.

KINGBOARD HLDG (00148) rose by over 5%, reaching a high of 55.2 Hong Kong dollars, hitting a new high. As of the time of writing, it rose by 5.69% to 54.8 Hong Kong dollars, with a trading volume of 826 million Hong Kong dollars. On the news front, Citigroup recently issued a research report, raising profit forecasts for KINGBOARD HLDG for the years 2026 to 2028 by 50% to 61%, and raising the target price from 48 Hong Kong dollars to 65 Hong Kong dollars. This is due to a shortage of glass fiber, copper foil, and copper-clad laminate (CCL) in the midst of the AI infrastructure investment boom. The bank believes that the current valuation of KINGBOARD HLDG is not reasonable, and if investors missed the strong rise of KB LAMINATES in April, KINGBOARD HLDG is a good choice to chase after the decline, reiterating a "buy" rating. Shanxi believes that due to the increase in downstream demand and the rise in prices of raw materials such as electronic cloth and copper foil, copper-clad laminate companies have started a new round of price increases. Considering the strong sustainability of this AI-driven super cycle, it is expected to remain in a period of high-speed growth for the next 3-5 years, providing continuous strong demand for high-end copper-clad laminates. The tight supply-demand situation for CCL is expected to continue until 2027 or even longer.