[ET Net News Agency, 31 March 2021] Daiwa Research cut its target price for Xinyi Solar
Holdings (XYS) (00968) to HK$14.5 from HK$20.4 but upgraded its rating to "outperform"
from "hold".
The research house said XYS' share price has corrected by 34% year-to-date on the recent
tightening in macro monetary policy. Daiwa now sees its valuation as attractive, led by
still solid earnings growth prospects.
Flat Glass (FGG) (06865) signaled a price cut in April from the current CNY37/m2 to
potentially CNY28/m2. Daiwa expects XYS to follow once FGG implements the cut. It cut its
2021-22 earnings forecasts by 9-11% on lower PV glass ASP estimates. (KL)
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00968 XINYI SOLAR
Nominal 
3.270 +0.170 (+5.484%) Research Report
31/03/2021 10:31
{I-bank focus}Daiwa cuts Xinyi Solar (00968) to HK$14.5
| Remark: | Real time quote last updated: 26/09/2024 16:35 |
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