[ET Net News Agency, 8 July 2020] Daiwa Research lifted its target price for Geely
Automobile (00175) to HK$17 from HK$16 but downgraded its rating to "hold" from "buy".
The research house said Geely reported a strong June sales volume of 110k units, up 21%
YoY, and 1H sales volume of 530k units, down 19%. Daiwa still sees uncertainty over its 2H
sales volume, while Geely's current 16x 1-year forward PER is above its past-3-year
average and sufficiently reflects its business outlook.
Thus, Daiwa believes it is time to book profits after its share price rallied 35% in the
past three trading days, but it remains positive on Geely in the long term. (KL)
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00175 GEELY AUTO
Nominal 
9.100 +0.190 (+2.132%) Research Report
08/07/2020 09:42
{I-bank focus}Daiwa lifts Geely Automobile (00175) to HK$17
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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