Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>JPM Raises TPs for CRRC/ TIMES ELECTRIC; Order Momentum May Cushion Potential Soft 3Q Results
Recommend 4 Positive 6 Negative 4 |
||||
|
||||
|
JPMorgan has released a report raising its forecasts for CRRC (01766.HK) (601766.SH) and TIMES ELECTRIC (03898.HK) (688187.SH) to reflect a more optimistic outlook based on strong order acquisition in 3Q25, improved demand visibility, and a shift towards cyclical growth in the industry. The broker's updated model assumed a CAGR of around 15% for the earnings of CRRC and TIMES ELECTRIC over the next three years, supported by a more balanced mix of new construction, upgrades, and aftermarket demand. This upward revision was backed by a slew of positive catalysts, including CRRC's robust financial performance, sturdy railway fixed asset investment (up by 6% YoY for eight months), and accelerating passenger traffic growth (up by 7% YoY during the summer peak season). These tailwinds have been turning into healthier order backlogs and more predictable earnings conditions. JPMorgan kept an Overweight rating on CRRC and TIMES ELECTRIC. CRRC's target prices were lifted from HKD6.8 to HKD8 for its H-shares but reduced from RMB10.1 to RMB10 for its A-shares. TIMES ELECTRIC's target prices were elevated from HKD43 to HKD50 for its H-shares and from RMB59 to RMB68 for its A-shares. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
