[ET Net News Agency, 26 August 2019] J.P. Morgan lifted its target price for Zhuzhou
CRRC Times Electric (03898) to HK$62 from HK$61 and maintained its "overweight" rating.
The research house said CRRC's resilient 2Q results cleared a major stock overhang.
In contrast to the company's past soft guidance, JPM's takeaways from the briefing are
broadly positive, in light of the affirmation of CRC's procurement plan and the upbeat
outlook offered on its new growth drivers, IGBT and NEV PV controllers in particular.
Management is fully confident that the IGBT business will turn profitable in FY2019.
Phase 2 of the IGBT plant is under construction, on track to start trial operation from
October 2020. (KL)
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03898 TIMES ELECTRIC
Nominal 
26.350 +0.550 (+2.132%) Others
26/08/2019 17:52
{I-bank focus}JPM lifts CRRC Times Electric (03898) to HK$62
| Remark: | Real time quote last updated: 23/09/2024 16:48 |
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