Citigroup: Upgrades Dechang Electric Motor Holdings (00179) target price to HK$29, included in industry top picks.

According to the China Finance APP, Citigroup released a research report stating that Techano Electric Holdings (00179) has just announced its first-quarter sales performance and announced the establishment of two equity joint ventures with Shanghai Electromechanical (600835.SH). This move will enhance Techano Electric's component engineering strength in new businesses. The bank has raised Techano Electric Holdings' target price from HKD 23.5 to HKD 29, maintained a "buy" rating, and included the company in its preferred list of Chinese industrial stocks.