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Global Investment Banks Start 2025 With Positive Setup -- Market Talk
UBS Group: Maintains XINYI SOLAR 'Buy' rating, Target Price adjusted to 4.6 HKD.
UBS Group released a research report stating that the earnings per share forecast for XINYI SOLAR (00968) for the fiscal years 2024 to 2026 has been downgraded by 70%, 42%, and 27%, respectively. At the same time, its Target Price has been lowered from HK$5.7 to HK$4.6, maintaining a 'Buy' rating. The company previously issued a profit warning, expecting that net profit for the year ending December 31, 2024, will decrease by 70% to 80% compared to 2023. The research report pointed out that the narrowing of profit margins and impairment losses led to XINYI SOLAR's weak performance last year, estimating a net loss of RMB 1 to 1.8 per square meter for the second half of 2024 based on the average selling price.
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