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<Research>DBS Adds GCL TECH (03800.HK) TP to $1.65, Keeps Rating at Buy
Recommend 33 Positive 47 Negative 14 |
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GCL TECH (03800.HK) placed 4.736 billion new shares to Infini Capital Management at a price of $1.15 per share, DBS Group Research issued a research report saying. The net proceeds will be used to establish a capital reserve for anti-involution measures and development of silane gas. The broker expressed optimism that the solar industry will gradually eliminate excess capacity by 1H26, and believed that supply and demand will become healthier and more balanced. Considering the increasing support from the Chinese government for the anti-involution initiative, DBS Group Research added its target price for GCL TECH from $1.45 to $1.65, with rating kept at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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