[ET Net News Agency, 31 October 2019] Goldman Sachs lowered its target price for
Guangzhou Automobile Group (GAC)(02238) to HK$9.8 from HK$11.34 and maintained its "buy"
rating.
The research house said GAC remains on the path towards JV structural profit growth and
Trumpchi loss reduction. While the progress has been slower than expectations, the
direction has been affirmed in the latest quarter.
Goldman expects GAC-Toyota and GAC-Honda's visible capacity expansion, combined with
Trumpchi product updates and cost management, to underpin renewed growth in the listing
company's net profit in 2020-2021, thereby re-rating the shares. (KL)
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02238 GAC GROUP
Nominal 
3.150 +0.040 (+1.286%) Others
31/10/2019 16:58
{I-bank focus}Goldman cuts GAC Group (02238) to HK$9.8
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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