Goldman Sachs Downgrades TIMES ELECTRIC to "Neutral," Raises Target Price to HK$43.9

Stock News

Feb 27

Goldman Sachs has issued a research report adjusting its rating on TIMES ELECTRIC (03898) H-shares from "Buy" to "Neutral," citing valuation considerations. The firm also removed a 20% holding company discount, resulting in an increased target price from HK$35.1 to HK$43.9. According to Goldman Sachs, TIMES ELECTRIC's current valuation is reasonable, as its share price has risen 18% year-to-date and the stock is now trading at 11 times the projected 2026 price-to-earnings ratio. Earnings per share are expected to grow at a compound annual growth rate of 7% between 2026 and 2030. Following the market close on February 6, TIMES ELECTRIC released preliminary 2025 financial results that aligned with expectations. Revenue for 2025 reached RMB 28.761 billion, while net profit stood at RMB 4.105 billion, reflecting year-on-year increases of 15% and 11%, respectively. These figures were 1% below and 3% above the bank's forecasts.

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The firm also removed a 20% holding company discount, resulting in an increased target price from HK$35.1 to HK$43.9. According to Goldman Sachs, TIMES ELECTRIC's current valuation is reasonable, as its share price has risen 18% year-to-date and the stock is now trading at 11 times the projected 2026 price-to-earnings ratio. Earnings per share are expected to grow at a compound annual growth rate of 7% between 2026 and 2030. Following the market close on February 6, TIMES ELECTRIC released preliminary 2025 financial results that aligned with expectations. Revenue for 2025 reached RMB 28.761 billion, while net profit stood at RMB 4.105 billion, reflecting year-on-year increases of 15% and 11%, respectively. These figures were 1% below and 3% above the bank's forecasts.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Sachs Downgrades TIMES ELECTRIC to \"Neutral,\" Raises Target Price to HK$43.9</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Sachs Downgrades TIMES ELECTRIC to \"Neutral,\" Raises Target Price to HK$43.9\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-02-27 14:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Goldman Sachs has issued a research report adjusting its rating on TIMES ELECTRIC (03898) H-shares from \"Buy\" to \"Neutral,\" citing valuation considerations. The firm also removed a 20% holding company discount, resulting in an increased target price from HK$35.1 to HK$43.9. According to Goldman Sachs, TIMES ELECTRIC's current valuation is reasonable, as its share price has risen 18% year-to-date and the stock is now trading at 11 times the projected 2026 price-to-earnings ratio. Earnings per share are expected to grow at a compound annual growth rate of 7% between 2026 and 2030. Following the market close on February 6, TIMES ELECTRIC released preliminary 2025 financial results that aligned with expectations. Revenue for 2025 reached RMB 28.761 billion, while net profit stood at RMB 4.105 billion, reflecting year-on-year increases of 15% and 11%, respectively. These figures were 1% below and 3% above the bank's forecasts.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK0279","symbol_name":"运输设备","start_time":0,"source_url":"","article_id":"1166999577","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1166999577","pubTimestamp":1772173822,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"Goldman Sachs has issued a research report adjusting its rating on TIMES ELECTRIC (03898) H-shares from \"Buy\" to \"Neutral,\" citing valuation considerations. The firm also removed a 20% holding...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"688187":"时代电气","BK0279":"运输设备","LU1171460220.USD":"FULLGOAL CHINA SMALL-MID CAP GROWTH \"A1\" (USD) INC","BK1565":"高铁基建股","03898":"时代电气","BK1116":"电气部件与设备","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","BK1171":"建筑机械与重型卡车"},"translate_title":"高盛下调时代电气评级至“中性”，目标价升至43.9港元","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"688187":1,"03898":1},"content_text":"Goldman Sachs has issued a research report adjusting its rating on TIMES ELECTRIC (03898) H-shares from \"Buy\" to \"Neutral,\" citing valuation considerations. The firm also removed a 20% holding company discount, resulting in an increased target price from HK$35.1 to HK$43.9. 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