JPM updated its financial model for Wasion Holdings to reflect recent operating trends, including order intake related to AI Data Centers and developments in its electricity meter business. While raising EPS forecasts for 2026 to 2028 by about 2%, JPM lowered target P/E multiples for several segments to align with peer valuations, resulting in a reduced target price from HKD35 to HKD32. The broker maintained an Overweight rating.
