Movement Alert｜Dongfang Electric Falls 3.2% in Regular Trading, JPMorgan Continues Selling as Citi Slashes Target Price by 44%

Market Focus07-17

On July 17, Dongfang Electric (01072.HK) fell 3.2% in regular trading, trading at HK$20.4/share, with turnover of HK$58.45 million.

On the news front, JPMorgan Chase has been persistently reducing its position in the company. After selling approximately 2.03 million shares on July 6 at around HK$24.33 per share, JPMorgan sold another 652,686 shares on July 14 at approximately HK$22.90 per share. Additionally, Citi recently slashed Dongfang Electric's target price from HK$54 to HK$30, a 44% reduction, while lowering earnings forecasts for the next three years by 1%-6%, citing more realistic market expectations for the company's gas turbine export revenue contribution. Citi maintained its Buy rating, noting that new orders grew 10% year-on-year in the first five months and unfulfilled orders rose 7% to RMB 150 billion.

Within the Heavy Electrical Equipment sector, the overall sector declined broadly. Among individual stocks, DAJIN down 11.62%, GUOXIA TECH down 7.41%, HARBIN ELECTRIC down 6.49%, GOLDWIND down 5.44%, SH ELECTRIC down 3.73%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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After selling approximately 2.03 million shares on July 6 at around HK$24.33 per share, JPMorgan sold another 652,686 shares on July 14 at approximately HK$22.90 per share. Additionally, Citi recently slashed Dongfang Electric's target price from HK$54 to HK$30, a 44% reduction, while lowering earnings forecasts for the next three years by 1%-6%, citing more realistic market expectations for the company's gas turbine export revenue contribution. Citi maintained its Buy rating, noting that new orders grew 10% year-on-year in the first five months and unfulfilled orders rose 7% to RMB 150 billion.</p><p>Within the Heavy Electrical Equipment sector, the overall sector declined broadly. Among individual stocks, DAJIN down 11.62%, GUOXIA TECH down 7.41%, HARBIN ELECTRIC down 6.49%, GOLDWIND down 5.44%, SH ELECTRIC down 3.73%.</p><p>(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. 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