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<Research>BofAS Expects DONGFANG ELEC (01072.HK) to Benefit from Overseas Demand, Elevates TP to $55
Recommend 5 Positive 16 Negative 5 |
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The demand for power equipment was driven by US AI data centers, and the delivery period for overseas gas turbine manufacturers exceeded two years, according to a research report issued by BofA Securities. The capacity constraint presents an opportunity for emerging market producers to expand overseas. DONGFANG ELEC (01072.HK), as the only Chinese gas turbine manufacturer capable of exporting F-class products, has seen a noticeable increase in gas turbine inquiries from both emerging and developed countries, with ample capacity, competitive pricing and shorter delivery time. BofA Securities raised its 2026/ 2027 net profit after tax forecasts for DONGFANG ELEC by 13%/ 30% each, and changed its valuation method to a SOTP valuation based on PE ratio. Therefore, the broker elevated its target prices for DONGFANG ELEC's H-/ A-shares from $33/ RMB32 to $55/ RMB54, with ratings reiterated at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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