CCB International has issued a research report expressing optimism about TIMES ELECTRIC's (03898) prospects, raising its profit forecast by 6%-13% and upgrading the stock's rating from "Neutral" to "Outperform." The target price has been increased by 66% from HK$28.6 to HK$47.6. The bank views the recent stock price pullback as a buying opportunity. Despite lower-than-expected net profit growth in the first nine months of 2025 due to reduced subsidies and unfavorable delivery timelines for rail transit equipment, CCB International believes the company has delivered high-quality results. The report highlights TIMES ELECTRIC's significant investment in business transformation within emerging equipment sectors, noting smooth progress driven by successful new products and expanding market share in new energy vehicles and power transmission.