Changes in Hong Kong stocks | Quanfeng Holdings (02285) rose more than 4%. The company continued to reassess the incident path and raised the target price to HK$40

The Zhitong Finance App learned that Quanfeng Holdings (02285) rose more than 4%. As of press release, it had risen 4.08% to HK$30.1, with a turnover of HK$388.181,000.

According to news, on September 10 this year, Joseph Galli Jr., the former CEO of Chuangke Industrial, joined Quanfeng Holdings as the new CEO, and founder Pan Longquan will remain the chairman. Yamato pointed out that Galli then recruited and promoted 4 key senior executives for the North American business within the next two to three weeks. Three of them worked with I&K's Milwaukee business. The bank believes that the company's sustainable revaluation event path is clear, including the new CEO's blueprint and options plan, and the shift in trend in the US market by the professional power tool brand FLEX.

Daiwa raised Quanfeng Holdings' 2027-2028 earnings forecast by 3% to 4%, and raised the target price-earnings ratio from 10 times to 15 times to apply to 2027 earnings per share. The 12-month target price was raised by about 63.3% to HK$40 from HK$24.5 to HK$40 due to stronger revenue growth prospects.