Borqs Technologies, Inc. featured in an updated research report by WallStreet Research™ with a “Speculative Buy” Rating

SANTA CLARA, Calif., Sept. 11, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”) has just been awarded a “Speculative Buy” rating in the latest research report from WallStreet Research™. Six-month price targets range from $1.00 to $1.20 per share. The Company is a global leader in embedded software and products for the Internet of Things (IoT) industry. The report notes that Borqs is in the process of divesting its 49% stake in Holu Hou Energy, LLC (“HHE”) and has hired a large New York investment bank, whose team specializes in the solar energy industry, to finalize the terms of the expected sale of the Company’s stake in HHE. The divestiture is expected to be completed by the end of 2023. The Company expects to earn potentially a nine-figure gain from the divestiture, which will be used for future acquisitions and possible share buybacks or to pay special dividends. WallStreet Research™ addresses the valuation of Borqs from a combination of its core-business and the expected divestiture of HHE.