Shares of Goldwind Science & Technology, a leading Chinese wind turbine manufacturer, surged 5.64% on Monday, propelled by the company's strong third-quarter financial performance and a positive analyst outlook.
During the third quarter, Goldwind showcased its cost-control prowess, reporting a significant year-over-year reduction in selling and administrative expenses. Additionally, the company's average selling prices for its wind turbine generators rebounded by an impressive 3.7%, attributed to its strategic decision to avoid low-priced tenders.
Daiwa Capital Markets, a prominent brokerage firm, took note of Goldwind's stellar results and upgraded the stock's rating to "outperform" from "hold." Furthermore, the firm raised its target price for the stock to HK$7.80, citing the company's "excellent" cost-control ability and the potential for continued growth.
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