pennpursuit36000reel|大摩：上调时代电气目标价至33港元 喜好其多于中国中车

Morgan Stanley released a research report sayingPennpursuit36000reelMarket maintenance, growth and equipment upgrading of the mainland high-speed rail sectorPennpursuit36000reelThe optimism has been largely digested, maintaining time Electric's (03898) "overweight" rating and raising its target price from HK $27 to HK $33, given the good growth potential of emerging businesses. The bank raised the group's earnings per share forecast by 4% this year, and its revenue and net profit are expected to rise 13% and 17% respectively compared with the same period last year.

The report said that the CRRC (01766) earnings per share were cut by 7 per cent and 11 per cent respectively this year and next to reflect the weakness of the new business, and its revenue and net profit this year are expected to grow by 3 per cent and 9 per cent respectively, while gross profit margin will improve. The bank raised the target price of group H shares from 4.Pennpursuit36000reel.5 Hong Kong dollars down to 4.Pennpursuit36000reel.2 Hong Kong dollars, due to reasonable valuation, the rating was downgraded from "overweight" to "in line with the market". The bank refers to the good times electric more than the car.

Morgan Stanley said that the market is generally expected to phase out diesel locomotives, will speed up the purchase of new locomotives. The bank expects annual sales to increase by an average of 200 units in 2024-26, compared with 1500 units in 2026, meaning a three-year compound annual growth rate of 18 per cent. The bank expects CRRC and time Electric to account for 18% and 16% of locomotive revenue by 2026, up from 12% and 13% respectively in 2023.