[ET Net News Agency, 18 January 2018] Goldman Sachs lifted its target price for
Guangzhou Automobile Group (GAC)(02238) to HK$25.35 from HK$24.46, and maintained its
"buy" rating.
The research house increased its 2017-2020 EPS forecasts by 3-5% on the positive profit
alert announced on 15 January.
Going forward, Goldman sees three key catalysts for GAC, including: (1) New plant
completion in Hangzhou by end-2017 removing capacity bottleneck, (2) Robust volume growth
on solid new product line up, and (3) Strong FY2017 earnings growth (announcement to be
released March 2018). (KL)