[ET Net News Agency, 4 December 2018] HSBC Global Research lowered its target price for
Guangzhou Automobile Group (GAC)(02238) to HK$8.9 from HK$9.4 and maintained its "buy"
rating.
The research house forecast a 5.4% CAGR in sales volume between 2017 and 2020, slightly
ahead of IHS (5%), driven by GAC's domestic brand and Jeep (GAC-Fiat).
Aside from the new models, the company also launched a new version of the GS5 on 31
October 2018. GAC is increasing the focus on its NEV and sedan line-up. The GA6, a small
MPV, will be the first in this line-up and is due to launch by the end of this year. NEV
models will include an A-class sedan in 1H 2019 and B-class SUV in 2H 2019. Both will be
produced at the new NEV dedicated factory, which is opening at the end of 2018 and has an
annual production capacity of 200,000 units.
HSBC revised its 2018-20 adjusted profit for GAC by 1%/-5%/2% respectively. (KL)
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02238 GAC GROUP
Nominal 
3.130 -0.020 (-0.635%) Others
04/12/2018 11:18
[I-bank focus]HSBC trims GAC Group (02238) to HK$8.9
| Remark: | Real time quote last updated: 25/04/2024 09:22 |
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