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00881 ZHONGSHENG HLDG
RTNominal up14.500 +0.880 (+6.461%)
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04/12/2018 11:53

[I-bank focus]HSBC lifts Zhongsheng Group (00881) to HK$17

[ET Net News Agency, 4 December 2018] HSBC Global Research lifted its target price for
Zhongsheng Group Holdings (00881) to HK$17 from HK$16 and maintained its "hold" rating
because it thinks that weak auto sales may cap upside potential for the auto dealers over
the coming year.
The research house increased its target price for Zhongsheng as it factored in lower
beta as a result of the lower trading volatility of recent share price movements. HSBC
maintained its 2018-20 adjusted profit for Zhongsheng unchanged.
It thinks dealers will be the main beneficiary of any policy support but does not see
this catalyst occurring anytime soon. Within Auto dealers, HSBC prefers Zhongsheng because
of its higher exposure to Mercedes Benz and Lexus. (KL)

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