Citi Research has issued a Neutral rating for TIMES ELECTRIC due to its conservative guidance for 2026, reflecting a weak outlook for its rail transit and emerging equipment businesses, particularly in power semiconductors. The slowdown in high-speed multiple unit tenders is expected to negatively impact revenue growth and may lead to gross margin contraction. Consequently, earnings forecasts for 2026-2027 have been lowered by 10% and 12%, and the target price has been reduced from $42.5 to $40.
