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中国高速传动(00658.HK):维持买入评级 目标价上调至7.4元

China High Speed Transmission (00658.HK): Maintain the purchase rating target price increase to 7.4 yuan

美國高盛 ·  Dec 24, 2018 00:00  · Researches

Goldman Sachs published a report reaffirming the “buy” rating for high-speed transmission (00658.HK), and the target price was raised from 6.8 yuan to 7.4 yuan. The increase in earnings of high-speed transmission in 2015, 2016, and 2017 was increased by 14%, 8%, and 2%, mainly reflecting the strong growth in wind power gearbox sales and the decline in financing costs. The bank reiterated its optimism about high-speed transmission and believes its wind power gearbox sales are expected to reach 14GW this year, mainly driven by strong demand from China and the US. On the US side, according to the American Wind Energy Association, construction of an additional 1.2 GW wind farm began in the first quarter of this year, which is believed to drive an increase in export sales of high-speed drives. Furthermore, it is expected that the Group can obtain 2.8 billion yuan (6.2083, 0.0017, 0.03%) of cash from land and asset sales, which can support this year's balance sheet deleveraging target

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