TH Tech (CLS, Financial) experienced a positive shift in its stock price, climbing 4.96% to reach $75.91. This uptick follows Barclays analyst George Wang, CFA, assigning the stock a "Buy" rating with a target price of $91.
In the third quarter, TH Tech reported a 22% increase in revenue, escalating from $2.04 billion to $2.5 billion, exceeding analysts' expectations of $2.42 billion. The company has also updated its 2024 outlook, projecting revenue of $9.6 billion, up from the previous estimate of $9.45 billion. Additionally, the adjusted earnings per share are now forecasted at $3.85, an increase from the earlier prediction of $3.62.
