Stock Track | KB Laminates Soars 5.14% Intraday as NVIDIA Denies Delay Rumors and Citi Raises Target Price

Stock Track

07/08

KB Laminates (01888) saw its stock price soar 5.14% during intraday trading on Wednesday, marking a significant rebound for the PCB manufacturer.

The sharp rise follows NVIDIA's official denial of earlier reports that claimed its Kyber NVL144 high-end computing rack faced manufacturing delays due to PCB bottlenecks. These rumors had previously triggered panic selling across Asia-Pacific PCB stocks, including an accumulated drop of over 18% in KB Laminates over two trading sessions.

Adding to the positive sentiment, Citi raised its target price for KB Laminates from HK$120 to HK$130 while maintaining a Buy rating. The broker cited stronger-than-expected price hikes and upgraded earnings forecasts by 11-12% for the next three years, viewing the recent pullback as a buying opportunity.

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These rumors had previously triggered panic selling across Asia-Pacific PCB stocks, including an accumulated drop of over 18% in KB Laminates over two trading sessions.</p><p>Adding to the positive sentiment, Citi raised its target price for KB Laminates from HK$120 to HK$130 while maintaining a Buy rating. 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