Minth Group: Raising 2026–27 Forecasts and Target Price on Battery Housing and New-Tech Growth, Reiterating Buy

Ji Shi, an analyst from CMB International Securities, maintained the Buy rating on Minth Group. The associated price target is HK$42.00.

Ji Shi has given his Buy rating due to a combination of factors that support a robust medium-term growth outlook for Minth Group. He anticipates solid earnings momentum in the second half of 2025, underpinned by stronger-than-expected revenue from aluminium components and battery housings, while margins are preserved thanks to the company’s ability to pass most raw material cost increases on to customers. At the same time, Minth is increasing its R&D spending to speed up the development of new product lines in areas such as robotics and liquid cooling, which is expected to enhance its long‑term competitiveness.

Ji Shi also judges that external risks, such as higher US tariffs and aluminium price volatility, are manageable because the company’s direct exposure to the new US tariff regime is small and its Mexican production is unaffected. Looking ahead, he expects rapid growth in battery housing demand, supported by rising NEV sales in Europe, and foresees meaningful revenue contributions from new businesses related to humanoid robots, AI server liquid cooling systems, and door sealing systems starting in FY27. These drivers lead him to raise earnings forecasts for 2026–2027 and to increase the target price while keeping the valuation multiple unchanged, which collectively underpins his Buy recommendation on the stock.

According to TipRanks, Shi is a 4-star analyst with an average return of 9.8% and a 50.00% success rate. Shi covers the Consumer Cyclical sector, focusing on stocks such as Geely Automobile Holdings, Minth Group, and Zhejiang Leapmotor Technology Co., Ltd. Class H.

In another report released on January 23, TipRanks – OpenAI also reiterated a Buy rating on the stock with a HK$43.00 price target.