Citi: Cuts Fuyao Glass (03606.HK) H-share target price to HK$66, maintains "Buy" rating, lowers 2026-2028 earnings forecasts

Zhitong Finance APP has learned that Citi issued a research report stating that it has lowered the H-share target price of Fuyao Glass (03606.HK) from HK$81 to HK$66, and the A-share (600660.SH) target price from RMB79 to RMB63, while maintaining a "Buy" rating. After attending the company's Q3 2026 analyst meeting, the bank lowered its revenue forecasts for 2026 to 2028 by 5% to 12%, and its net profit forecasts by 17% to 20%, to RMB8.033 billion, RMB9.784 billion, and RMB11.293 billion, respectively, to reflect weak global automobile production and persistently high freight costs. The bank expects the company's earnings compound annual growth rate for 2026 to 2028 to be 19%, with the H-shares and A-shares valued at 1x and 1.1x PEG, respectively.