Citi: SunPower's target price raised by 20% based on the company's research showing improved production efficiency.

Citi visited the inverter and energy storage system factory of Sungrow in Hefei, Anhui, and found that the production capacity utilization rate was very high. At the same time, the production line used robotic arms to achieve more automation. Citi reiterated its buy rating on the company and raised its target price by 20% to 240 yuan. Analysts Pierre Lau and others pointed out in the report that the bank's net profit forecast for Sungrow from 2025 to 2027 is 9.6% to 16.5% higher than Bloomberg's consensus expectations, and may continue to be revised upwards. Assuming that the company's shipment volume of energy storage systems will increase by 70% and 40% in 2025 and 2026, respectively, to 47.6GWh and 66.6GWh. The company may be listed on the Hong Kong stock market in the first quarter of next year, which will increase its global visibility. The company is the preferred choice in the photovoltaic and energy storage sectors.