GOLDWIND (02208) saw its stock price plummet by 5.01% in intraday trading, following a research report from JPMorgan that presented a mixed outlook for the company. Despite raising the target price, the investment bank downgraded GOLDWIND's H-shares from "overweight" to "neutral," triggering a sell-off among investors.

According to the JPMorgan report, GOLDWIND's first-half results exceeded expectations, with the core wind turbine business achieving an impressive 8% gross margin. This performance surpassed both the management's full-year guidance of 7% and the bank's previous forecast of 6.4%. However, the report also noted that the company's wind farm operations and asset disposal gains fell short of expectations.

In light of these mixed results, JPMorgan has made several adjustments to its outlook on GOLDWIND. The bank raised its earnings forecasts for 2025-2027 by 3% to 7% and significantly increased the H-share target price by 34% to HK$10.3. Similarly, the A-share target price for Goldwind Science&Technology Co.,Ltd. (002202.SZ) was raised by 29% to RMB 14.6. Despite these positive adjustments, the downgrade of H-shares to "neutral" appears to have overshadowed the raised target price, leading to today's sharp decline in stock value.