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JPMorgan initiates coverage on Dajin Heavy Industry with 'overweight' rating and HK$43 target
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JPMorgan has initiated coverage on Dajin Heavy Industry (01081) with an 'Overweight' rating and a target price of 43 HKD. The bank notes that Dajin is a leading global supplier of offshore wind power foundations. Although earnings forecast cuts caused a significant share price decline since mid-2026, JPMorgan expects earnings to rebound in 2027 as currency and logistics headwinds ease and European order growth reaccelerates. The report highlights positive catalysts over the past two weeks, including Germany's introduction of a Contract for Difference (CfD) mechanism and the grid connection of the Waterekke offshore project, which have prompted investors to reassess the stock, leading to a roughly 20% rebound since September 9. JPMorgan believes the current valuation is attractive and that the company will benefit from a multi-year upcycle in European offshore wind construction.
Source report
Morgan Stanley has released a research report initiating coverage on Dajin Heavy Industry (01081), assigning an "Overweight" rating with a target price of HK$43.
According to the report, Dajin Heavy Industry is a global leading supplier of offshore wind power foundations. Although downward revisions in earnings forecasts have led to a significant share price decline since mid-2026, the bank expects the company's earnings to rebound in 2027, driven by the easing of headwinds in foreign exchange and logistics, as well as a re-acceleration in European order growth.
Morgan Stanley also noted positive catalysts emerging over the past two weeks, including:
- Germany's introduction of a Contract for Difference (CfD) mechanism
- The grid connection of the Waterekke offshore wind project
These developments have prompted investors to re-evaluate the stock, which has rebounded approximately 20% since September 9.
The bank believes that the current valuation is attractive and that the company is well-positioned to benefit from a multi-year upcycle in European offshore wind construction.
Source
智通财经Neutral / independent