Stock Track | TIMES ELECTRIC Soars 5.22% Intraday Following Major Share Buyback and Analyst Price Target Increase

Stock Track04-29

TIMES ELECTRIC's stock surged 5.22% during intraday trading on Wednesday, staging a significant rebound in the market session.

The sharp rise appears to be driven by the company's substantial share repurchase program, where it bought back approximately 5.08 million H-shares for about HKD 175 million. This buyback, representing around 1.04% of the issued share capital, has bolstered investor confidence in the company's valuation and future prospects.

Adding to the positive sentiment, Morgan Stanley recently raised its target price for TIMES ELECTRIC to HKD 58, citing a favorable outlook for the company. These developments have helped offset concerns that arose from the company's first-quarter report, which showed deteriorating operating cash flow.

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.

Comments

We need your insight to fill this gap
Leave a comment