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<Research>UBS Initiates Coverage on TIANGONG INT'L With Rating Buy & TP HKD5.6, Envisions Valuation Re-rating
TIANGONG INT'L (00826.HK) is transforming from a traditional manufacturer of cutting tools, high-speed steel, and die steel into an advanced alloy materials platform with profi...
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<Research>UBS Initiates Coverage on TIANGONG INT'L With Rating Buy & TP HKD5.6, Envisions Valuation Re-rating
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TIANGONG INT'L (00826.HK)  -0.020 (-0.567%)    Short selling $7.43M; Ratio 5.508%   is transforming from a traditional manufacturer of cutting tools, high-speed steel, and die steel into an advanced alloy materials platform with profit growth potential, UBS' research report said.

In the short term, UBS expects TIANGONG INT'L to establish a dominant foothold in the titanium alloy segment, with related business sales and gross profit contribution projected to expand significantly to 23% and 32% of the total, respectively, by 2028.

The current share price of TIANGONG INT'L is equivalent to forecast P/E ratios of 15x and 11x for 2026 and 2027, respectively, said UBS. The company's stock price is likely to undergo a valuation re-rating.

UBS has initiated coverage on TIANGONG INT'L with a Buy rating and a target price of HKD5.6.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-24 16:25.)

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