CICC: Maintains Tian Gong International (00826) Outperform Rating, Raises Target Price to 3.01 Hong Kong Dollars

Wisdom Financial APP learned that CICC released a research report stating that Tung Ho International (00826) alloy materials are expected to see a significant increase in volume in 2026, with a forecasted net profit attributable to the parent company of 538 million yuan for 2026. The current stock price corresponds to a P/E ratio of 17.0x/11.4x for 2025/2026. Considering that the company's contribution from alloy materials in 2025 is relatively small, the bank has switched the company's valuation to 2026. The bank maintains an outperform industry rating for the company, raising the target price by 20% to 3.01 Hong Kong dollars, corresponding to a P/E ratio of 13.8x for 2026, implying a 20.8% upside potential.