[ET Net News Agency, 19 January 2018] Macquarie Research lifted its target price for
BAIC Motor Corp (01958) to HK$10.7 from HK$6.9, and maintained its "neutral" rating it
believes the current share price reflects the 2018-19 outlook, and there are still
downside risks to earnings.
The research house raised its 2018/19 earnings forecasts to reflect (1)
better-than-expected profitability at the Benz JV; (2) the negative impact on earnings
from Hyundai's aggressive pricing strategy; and, (3) the planned disposal of loss-making
assets under local brands that could help narrow losses.
The shares are trading close to highs, but in the near term Macquarie believes downside
is limited due to an expected recovery in earnings in 2018-19. Macquarie lowered its 2017
EPS forecast by 2%, and raised 2018/19 EPS numbers by 35% and 54%, respectively. (KL)
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01958 BAIC MOTOR
Nominal 
2.240 +0.040 (+1.818%) Others
19/01/2018 17:02
[I-bank focus]Macquarie lifts BAIC Motor (01958) to HK$10.7
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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