[ET Net News Agency, 2 April 2020] Jefferies Research raised its target price for Great
Wall Motor (GWM)(02333) to HK$6.1 from HK$5.7 and maintained its "buy" rating.
The research house said GWM's FY2019 earnings (down 14%) were in line with the
preliminary result. Margins in 4Q 2019 contracted due to more R&D costs but cash position
improved due to spin-off of non-core operations in June 2019, and an off-balance sheet of
auto financing liabilities.
Jefferies said GWM is less vulnerable amid COVID-19 due to higher component localization
rate, and limited overseas exposure. It forecast earnings to decline 11% in FY2020 before
a rebound of 23.4% in FY2021. (KL)
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02333 GWMOTOR
Nominal 
11.740 -0.080 (-0.677%) Research Report
02/04/2020 11:21
{I-bank focus}JEF lifts Great Wall Motor (02333) to HK$6.1
| Remark: | Real time quote last updated: 26/04/2024 14:34 |
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