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<Research>BOCOMI Drops GCL TECH's TP to $1.49, Rating Upgraded to Buy
Recommend 20 Positive 41 Negative 13 |
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Although GCL TECH (03800.HK)'s granular silicon's low-carbon advantage has not yet been reflected in its selling price, with the announcement of the "Low Carbon Evaluation Requirements for PV Module Export Products (Draft for Comments)" and the implementation of the EU carbon tariff in 2026, it is expected that the discount of granular silicon compared to rod silicon will gradually turn into a premium, thereby greatly expanding the profitability advantage, according to a BOCOMI report. Considering the slow capacity clearance in the polysilicon industry, BOCOMI reduced GCL TECH's granular silicon production and selling price and its target price from $1.77 to $1.49. Believing that GCL TECH's valuation was attractive after the recent stock price pullback, however, BOCOMI upgraded the company's rating to Buy. AAStocks Financial News |
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