[ET Net News Agency, 16 November 2017] Credit Suisse raised its target price for
GCL-Poly Energy Holdings (03800) to HK$1.8 from HK$1.4, and maintained its "outperform"
rating.
The research house said GCL Poly remains a laggard with 126% and 26% underperformance
against A-share listed LONGi and US-listed peers, respectively. It expects further upside
driven by demand momentum and potential upside surprises on its capacity upgrade.
Credit Suisse said GCL has been upgrading its multi-Si wafer capacities with
diamond-wire cutting technology this year with potential 30% output increase per earlier
guidance. The research house's recent industry research (industry development and other
companies) suggests a much larger increase (50-100% range).
Credit Suisse raised its FY2018-19 wafer output by 15% to 26.5/27GW. It also increased
its FY2017-19 EPS estimates by 2-13% on higher wafer output forecasts. (KL)
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03800 GCL TECH
Nominal 
1.090 0.000 (0.000%) Others
16/11/2017 18:01
[I-bank focus]CS raises GCL-Poly Energy (03800) to HK$1.8
| Remark: | Real time quote last updated: 25/04/2024 18:00 |
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