Xinjiang Goldwind Science & Technology Co. advanced the most in almost 16 months in Hong Kong after Deutsche Bank AG recommended buying China’s largest maker of wind turbines as capacity and orders are seen rising.
The stock rose 11 percent, the biggest jump since October 2011, to HK$4.23 by the close. Deutsche Bank raised Goldwind’s recommendation to buy from hold. China High Speed Transmission Equipment Group Co. also climbed 16 percent, the largest gain since November 2008, as the bank reiterated its buy rating.
“We view 2013 as an inflection point for wind equipment, after a two-year consolidation,” Michael Tong, a Hong Kong- based analyst at Deutsche Bank said yesterday in a note. “An expected jump in new capacity to be installed will lead to resumed order growth and a turbine price rebound.”
China will probably install 16.6 gigawatts of onshore wind turbines this year and 17 to 18 gigawatts in 2014 and 2015, following an 18 percent decline last year to 15.9 gigawatts, Bloomberg New Energy Finance said in a Feb. 4 report.
To contact the reporter on this story: Feifei Shen in Beijing at email@example.com
To contact the editor responsible for this story: Reed Landberg at firstname.lastname@example.org