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HNHPF - Hon Hai: Focus On AI Server Growth Rather Than Earnings Miss (Rating Upgrade)

Foxconn Technology Group Global Dep Rcpt Reg S

2024-05-19 14:00:00 ET

Summary

  • Hon Hai's Q1 2024 earnings were below expectations due to non-operating factors, but its first quarter operating profit was slightly above the consensus forecast.
  • HNHAF's actual April 2024 sales performance and the sell-side analysts' consensus full-year FY 2024 financial forecasts are favorable.
  • I revise my rating for Hon Hai to a Buy, in view of the positive outlook for its AI server business.

Elevator Pitch

Hon Hai Precision Industry Co., Ltd. ( OTCPK:HNHAF ) ( OTCPK:HNHPF ) [2317:TW] shares are awarded a Buy rating. ...

For further details see:

Hon Hai: Focus On AI Server Growth Rather Than Earnings Miss (Rating Upgrade)
Stock Information
Company Name: Foxconn Technology Group Global Dep Rcpt Reg S
Stock Symbol: HNHPF
Market: OTC
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