Bank of America Securities: expects continuous recovery of profits in mainland wind power industry, bullish on cable companies more than wind turbine enterprises.

Bank of America Securities issued a research report stating that it maintains a positive view on the mainland wind power industry chain. With the drive of resilient wind power installation demand, rising wind turbine prices, and increasing proportion of high-margin businesses, industry profitability is continuing to recover. Currently, the bank is more optimistic about cables than wind turbines, as Jiangsu Zhongtian Technology (600522.SH) and Ningbo Orient Wires & Cables (603606.SH) are currently undervalued, while wind turbine companies' valuations have become more reasonable. The bank has raised its average net income forecast for Jiangsu Zhongtian Technology and Ningbo Orient Wires & Cables for 2026 to 2027 by 9%, with their target prices respectively raised to 24 yuan and 81 yuan, both receiving a "buy" rating. In addition, the bank has raised its average profit forecast for Goldwind Science & Technology (02208) and Ming Yang Smart Energy (601615.SH) for 2026 to 2027 by 8% and 13%, respectively, to reflect the accelerated growth of overseas and offshore wind power businesses. It maintains a "neutral" rating for Goldwind Science & Technology's H shares and A shares (002202.SZ), with their target prices raised to 14.5 Hong Kong dollars and 17.3 yuan, respectively; and an "buy" rating for Ming Yang Smart Energy, with its target price raised to 18 yuan.