[ET Net News Agency, 23 October 2019] Citi Research increased its target price for
Dongfeng Motor (00489) to HK$8.6 from HK$6.2 and maintained its "neutral" rating.
The research house lifted JV earnings up to Rmb15/15.8/16.3bn over 2019-21 to factor in
the following changes in its assumptions: (1) Lifting DF Nissan 2019-21 sales volume to
1.34/1.4/1.45mn units; (2) Lifting DF Honda 2019-21 sales volume to 900k/973k/1mn units;
(3) Changing DF-PSA 2019-21 net loss forecast to -3.8/-2.5/-1.2bn; (4) Improving local
brands sales momentum changes operating profit forecast to Rmb542/588/628mn.
As such, Citi's 2019-21 net profit forecasts were revised up 39%/26%/20% to
Rmb13.5/13.6/13.5bn. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00489 DONGFENG GROUP
Nominal 
2.770 -0.030 (-1.071%) Others
23/10/2019 10:44
{I-bank focus}Citi lifts Dongfeng Motor (00489) to HK$8.6
| Remark: | Real time quote last updated: 19/04/2024 10:28 |
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