[ET Net News Agency, 9 September 2019] Goldman Sachs raised its target price for Xinyi
Solar Holdings (00968) by 9.5% to HK$5.58 and maintained its "buy" rating.
Xinyi raised the solar glass price from Rmb26.3/sqm to Rmb27.8/sqm, up 6%, last week.
The research house believes the recent price hike could suggest improving supply and
demand dynamics in the solar glass segment on the back of upcoming rising China demand and
limited new capacity addition within this segment.
To factor in the recent price hike, Goldman raised 2019-21 net income estimates by
0.8%/6%/6% to Rmb2,447/3,314/3,988mn. (KL)