Daiwa: Upgraded Changfei Fiber Optic Cable (06869.HK) to "Buy", reiterating target price of HK$230.

According to the Wise Finance APP, Morgan Stanley released a research report stating that Changfei Optic Fibre Cable (06869.HK) has fallen by about 50% since its high in June 2026, however, the profit growth trajectory supported by the AI-driven optic fiber super cycle has not changed. The bank believes that the lowered valuation has created a highly attractive buying opportunity and has decided to upgrade its H-share rating from "in line with the market" to "hold" to reflect the more attractive risk-return profile following the recent stock price pullback, and maintain its target price at HK$230.