Microvast Holdings announces departure of chief financial officer
Investing.com - Nomura/Instinet initiated coverage on Ningbo Tuopu Group Co Ltd (SS:601689) with a Buy rating and a price target of RMB55.00 on Monday.
The research firm expects Tuopu to deliver 14% revenue and 14% earnings compound annual growth rates from 2024 to 2027, supported by increasing contributions from domestic original equipment manufacturers (OEMs) and its robotics business.
Nomura’s price target is based on 27x 2026 forecasted price-to-earnings ratio, which represents 1.2 standard deviations above the company’s historical average of 19x.
The firm believes Tuopu will benefit from growing contributions from domestic OEMs such as AITO (a brand under Seres) and Xiaomi (HK:1810), which should offset weaker shipments from Tesla (NASDAQ:TSLA).
Nomura cited Tuopu’s expanding product portfolio, increasing content value, and positive long-term outlook for the robotics business as key factors supporting its bullish stance on the automobile components and robotics actuators provider.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.