[ET Net News Agency, 19 December 2019] Credit Suisse lifted its target price for
Nexteer Automotive Group (01316) to HK$8.45 from HK$8 and maintained its "outperform"
rating.
The research house expects Nexteer to return to 13% earnings growth in 2020, thanks to
(1) GM's production shifting to 2020 after UAW (United Auto Workers) strike; (2) negative
impact of column order loss phasing off from 2Q 2020; and (3) full-year contribution of
its estimated 50 projects launch in 2020 and high volume projects contribution, e.g. Haval
H6 SUV with est. 100k units.
Credit Suisse said Nexteer is its top pick in auto parts space with a low valuation,
strong balance sheet, and resilient growth profile. Credit Suisse revised down its 2019
earnings estimates by 2% to factor in GM's production shift but lifted 2020/21 earnings
estimates by 1%/0.7% with a higher volume assumption. (KL)
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01316 NEXTEER
Nominal 
3.910 +0.060 (+1.558%) Research Report
19/12/2019 15:55
{I-bank focus}Credit Suisse lifts Nexteer (01316) to HK$8.45
| Remark: | Real time quote last updated: 25/04/2024 13:10 |
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