CIRRUS (02507) saw its intraday gain exceed 8%, reaching a high of HK$69.50, marking its highest level since August of last year. At the time of writing, the stock was up 7.27%, trading at HK$68.60, with a turnover of HK$69.6553 million.
Haitong International released a research report affirming its "Outperform" rating on CIRRUS (02507). Based on expectations of increased shipments and improved profitability following the company's product updates, the firm forecasts revenues of US$1.394/1.674/1.951 billion for 2025-2027 (previously US$1.394/1.634/1.904 billion), with corresponding net profits of US$159/183/204 million (previously US$141/176/206 million). Considering the limited forward visibility of the company's order book and the low suitability of a DCF valuation, Haitong switched to a PE multiple valuation. Based on the projected EPS for 2026, it assigned an 18x PE ratio to the company and raised the target price to HK$70.20.