{I-bank focus}Daiwa downgrades Goldwind (02208) to HK$13.5

    Daiwa Research cut its target price for Xinjiang Goldwind Science & Technology (02208) to HK$13.5 from HK$14.3 and downgraded its rating to "underperform" from "hold".
  The research house said Goldwind's share price has dipped 17.6% since 2 March. The National Energy Administration (NEA) has recently released a consultation draft seeking opinions on China's wind and solar power development.
  Daiwa said the draft is likely to slow new wind installations from 2021 onwards, which would in turn impact upstream wind turbine generator (WTG) makers such as Goldwind, given the difficulty they face in transforming their operations, unlike wind-farm operators like Longyuan (00916) and China Datang Renewable Power (01798), which can switch to developing solar farms.