CGS-CIMB shaves Razer target price to HK$2.88 on challenges in hardware segment

Singapore

RAZER will likely face challenges in its hardware business due to slowing demand on top of supply chain constraints and surge in logistic costs, said CGS-CIMB.

In a report on Thursday (Mar 17), analyst Ray Kwok lowered his target price on the consumer electronics company to HK$2.88 from HK$3.90, after he cut his earnings per share estimates by 27 per cent for FY2022 and 29 per cent for FY2023. He maintained his "add" call on the counter.