Citi has revised upwards its target prices for Sopto, DSBJ, and TFC Communication. The investment bank forecasts that the global optical interconnect industry could expand to a market size of USD 92 billion by 2028, achieving a three-year compound annual growth rate (CAGR) of 65%. This growth is anticipated to be propelled by technological advancements, which are expected to drive an 18% CAGR in average selling prices. Specifically, Sopto has seen its target price soar by approximately 98% to RMB 701, a boost attributed to the evolution of 3.2T/NPO technology. DSBJ's target price has been lifted by about 56% to RMB 350, reflecting expectations of an increased market share in the optical chip and optical module sectors. TFC Communication's target price has also been raised, by about 32% to RMB 419, positioning it as a key beneficiary of CPO (Co-Packaged Optics) technology. Meanwhile, Citi has downgraded its rating on T time from 'Buy' to 'Sell', citing concerns over the potential risk of decoupling from Corning and its current overvaluation.