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Investing.com - JPMorgan has upgraded Eclat Textile Co Ltd (TPE:1476) to Neutral from Underweight while raising its price target to NT$390.00 from NT$320.00.
The upgrade comes as the firm sees healthy sportswear demand in the fourth quarter of 2025, driven by the upcoming 2026 FIFA World Cup and new client penetration, despite weakness in U.S. retail client orders.
Eclat’s order visibility has improved to six months, with confirmed orders through February 2026, and JPMorgan estimates fourth-quarter 2025 sales to grow 5% quarter-over-quarter, supported by rising garment shipments.
First-quarter 2026 shipments will be concentrated in January to mid-February due to the Lunar New Year schedule, according to the investment bank’s analysis.
JPMorgan notes that while the share price has rebounded 45% from its early April trough (compared to the TWSE Index’s 53% gain), it sees limited upside for further earnings revisions or re-rating, and remains concerned about the sustainability of improved orders given lukewarm U.S. consumer confidence and elevated inventory levels at major U.S. sportswear brands.
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