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<Research>Citi Drops TIMES ELECTRIC (03898.HK) TP to $40 on Weak 2026 Outlook
Similar to CRRC (01766.HK)'s conservative 2026 guidance, TIMES ELECTRIC (03898.HK) also holds a weak outlook for its rail transit equipment and emerging equipment businesses th...
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<Research>Citi Drops TIMES ELECTRIC (03898.HK) TP to $40 on Weak 2026 Outlook
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Similar to CRRC (01766.HK)  -0.030 (-0.589%)    Short selling $6.51M; Ratio 16.241%   's conservative 2026 guidance, TIMES ELECTRIC (03898.HK)  +0.160 (+0.433%)    Short selling $9.81M; Ratio 13.308%   also holds a weak outlook for its rail transit equipment and emerging equipment businesses this year, particularly in power semiconductors, Citi Research issued a research report saying.

The broker believed that the slowdown in high-speed multiple unit (MU) tenders will not only drag on revenue growth of the rail transit equipment segment, but may also lead to gross margin contraction, as MU is a high-margin business.

Citi Research lowered its 2026-2027 earnings forecasts by 10%/ 12%, and dropped its target price from $42.5 to $40, with rating kept at Neutral, as management plans to enhance shareholder returns through share buybacks.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-24 16:25.)

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