M Stanley believes ZOOMLION will benefit significantly from the global upcycle in construction machinery, especially in the later stages when demand for non-excavator machinery is expected to rise. The company's improved overseas sales network and capacity utilization are anticipated to enhance operating profit margins. The domestic market is expected to continue its upcycle from 2026 to 2028, and ZOOMLION's focus on non-excavator machinery positions it well for this trend. As overseas sales channels are established, moderate growth is expected in international markets during the same period. Consequently, M Stanley raised its target price for ZOOMLION and maintained an Overweight rating.
