＜Research＞CLSA Initiates GCL TECH (03800.HK) at Outperform with $1.5 TP

　　GCL TECH (03800.HK) -0.020 (-1.754%) Short selling $27.26M; Ratio 17.667% was initiated Outperform rating with a target price of $1.5 in a report released by CLSA.

　　According to the report, the brutal industry oversupply has sent polysilicon prices to below the cash costs of most producers, and signs of supply exit are now beginning to be seen. The broker expected the supply/ demand balance to improve by the end of the year, putting GCL in a better position due to its low cost advantage.

　　In addition, GCL's launch of a 120,000-tonne-per-year plant in the UAE is expected to be another catalyst as the solar industry plans to shift to the Middle East.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-12 16:25.)

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