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RTNominal up5.450 +0.010 (+0.184%)

04/10/2019 09:41

{I-bank focus}Daiwa upgrades Xinyi Solar (00968) to HK$4.45

[ET Net News Agency, 4 October 2019] Daiwa Research raised its target price for Xinyi
Solar (XYS)(00968) to HK$4.45 from HK$3.5 and upgraded its rating to "hold" from
With subsidised solar projects in China starting installation in 2H, the research house
sees solar glass demand garnering further support in the near term, with 4Q 2019-1Q 2020
likely to become the peak demand season.
Apart from two production lines with 1,100 tonnes/day of capacity resuming operation in
2019, XYS plans to commence operations of a further four new production lines with 4,000
tonnes/day of capacity in 2020, strengthening its market-leading position, Daiwa noted.
It lifted its 2020-21 EPS forecasts by 9% on our higher solar glass sales assumption due
to new production lines. (KL)

Remark: Real time quote last updated: 10/12/2019 09:07
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