[ET Net News Agency, 21 November 2017] HSBC Global Research lifted its target price for
GCL-Poly Energy Holdings (03800) to HK$1.6 from HK$0.9, and maintained its "hold" rating.
The research house said new solar installation has picked up in momentum in recent
months, +4.0GW in September compared to August (+3.4GW) and July (+10.5GW).
With 42.3GW already installed in first 9 months of 2017, and based on recent discussions
with some government officials, HSBC believes total installation for 2017 could be 50GW,
implying +47% YoY (2016: 34GW).
As the market speculates a potential cut in tariffs for distributed solar projects
(current: RMB0.42/kWh), HSBC thinks this investment rush could continue through 1H 2018
before project returns are hurt. Supply, on the other hand, is running tight given
entrance of new capacity has become more challenging under higher environmental standards.
HSBC raised its 2017-19 net profit forecasts by 22-33%. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
03800 GCL TECH
Nominal 
1.150 +0.060 (+5.505%) Others
21/11/2017 17:54
[I-bank focus]HSBC lifts GCL-Poly Energy (03800) to HK$1.6
| Remark: | Real time quote last updated: 26/04/2024 16:49 |
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