0441 GMT - Goldwind Science & Technology's cost-control ability looks "excellent," Daiwa Capital Markets analysts say in a research report, citing its 3Q results. The wind-turbine-generator manufacturer's 3Q selling and administrative expenses fell 1.5%-3.5% on year, the analysts note. Average selling prices of the Chinese company's wind turbine generators also rebounded 3.7% on year in 3Q, which probably stems from the effectiveness of its strategy of proactively giving up low-ASP tenders, the analysts say. The brokerage upgrades the stock's rating to outperform from hold and raises its target price to HK$7.80 from HK$6.50. Shares are 3.0% lower at HK$6.70. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
October 29, 2024 00:41 ET (04:41 GMT)
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