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<Research>G Sachs Raises GCL TECH (03800.HK) TP to HKD1.3, Upgrades to Buy
Recommend 26 Positive 40 Negative 9 |
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The share price of GCL TECH (03800.HK) has ebbed back 28% since early February, while polysilicon prices shrank 22% over the same period, Goldman Sachs said in a research report. The stock is currently trading at 0.5X 2027E P/B, which in the broker’s view is unjustifiable. The market is not only valuing the company based on lower granular silicon prices, but is also beginning to underestimate its long-term production growth potential. Based on results beat in 2H25 and faster-than-expected cost reductions indicated by GCL’s management guidance, Goldman Sachs raised its TP from HKD1.2 to HKD1.3 and upgraded the stock from Neutral to Buy. Auto-translated by AI AASTOCKS Financial News |
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