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<Research>Daiwa Holds Negative View on CN Solar Industry, Believes Mkt Too Optimistic on Industry Profitability
Recommend 3 Positive 7 Negative 2 |
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Daiwa, in its research report, expressed a negative view on the solar industry in Mainland China, believing the market expectations for the industry's profitability in 2025 are too optimistic, which may pose risks to solar stock prices. Within the industry, the broker reiterated an Outperform rating for DAQO New Energy Corp. (DQ.US), as it believed the company holds investment value in the long term, with its net cash value above market value. XINYI ENERGY (03868.HK) was rated Hold, with its target price recently raised to HKD0.9. As for FLAT GLASS (06865.HK) and XINYI SOLAR (00968.HK), both were rated Underperform. The broker had previously lowered Flat Glass's earnings forecast for 2024-26 by 19-36%, and Xinyi Solar's EPS forecast was reduced by 8-16%. AASTOCKS Financial News Website: www.aastocks.com |
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