Shares of Goldwind Science & Technology, a leading Chinese wind turbine manufacturer, soared 5.64% on Monday, fueled by the company's impressive third-quarter results and a positive analyst outlook.
Goldwind reported a significant year-over-year reduction in its selling and administrative expenses during the third quarter, indicating strong cost-control measures. Additionally, the company's average selling prices for its wind turbine generators rebounded by 3.7%, potentially stemming from its strategy of avoiding low-priced tenders.
Daiwa Capital Markets, a prominent brokerage firm, took note of Goldwind's financial performance and upgraded the stock's rating to "outperform" from "hold." The firm also raised its target price for the stock to HK$7.80, citing the company's "excellent" cost-control ability.
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