HSBC Global Research raised the target price for Flat Glass (06865) to HKD26.8 from HKD24.6 and maintained the "buy" rating.
The research house said after the price hike in April, it expects prices for solar glass to remain stable in May, given a healthy inventory level to support pricing power. However, with module makers barely making any profit at current market environment, it sees limited upside to solar glass prices for the full year.
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