Haitong International Securities grants "Buy" rating to Henan Pinggao Electric.

Jul 17, 2023 (China Knowledge) -

Haitong International Securities has assigned a "Buy" rating to Henan Pinggao Electric (600312) with a target price of RMB 15.26, implying a potential increase of 19.87% from the current stock price of RMB 12.73.

Henan Pinggao Electric is a leading high-voltage switch manufacturer known for its research and innovation. The company has mastered core technologies, achieved breakthroughs in power transmission and distribution equipment, and focuses on reducing costs and improving efficiency.

Grid investment is expected to accelerate, with a projected 75% increase in the construction of ultra-high-voltage projects compared to 2022. The company is well-positioned in the high-voltage market and holds the leading market share in AC ultra-high-voltage GIS. It has secured significant contracts in the power grid market and is expanding its presence in external markets.

Henan Pinggao Electric's revenue and net profit showed growth in Q1 2023, indicating a...