[ET Net News Agency, 14 November 2017] CLSA lowered its target price for Great Wall
Motor Company (GWM)(02333) to HK$9.6 from HK$11.89, and downgraded its rating to
"underperform" from "outperform" to reflect margin pressure and unfavourable product life
cycle.
The research house cut its FY2017/18 earnings forecasts by 40.3%/21.5% to factor in 3Q
results with slower margin recovery and price cuts of aged models amid slower industry
growth in 2017 and 2018.
CLSA forecasts GWM's FY2017 earnings to decline by 47.4% YoY to Rmb5,555mn, and FY2018
earnings to grow 57.8% YoY with ROE at 16.2%. The stock is currently trading at 7.9x 2018
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02333 GWMOTOR
Nominal 
11.880 +0.100 (+0.849%) Others
14/11/2017 14:39
[I-bank focus]CLSA lowers Great Wall Motor (02333) to HK$9.6
| Remark: | Real time quote last updated: 20/09/2024 18:00 |
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