[ET Net News Agency, 11 January 2018] Daiwa Research lifted its target price for Great
Wall Motor (GWM)(02333) to HK$8.3 from HK$8.1, and reiterated its "sell" rating.
On greater economies of scale for the WEY brand alongside an improved product mix, the
research house looks GWM's gross margin to recover slightly in 2018-19 after having fallen
by 5.5pp YoY in 2017.
However, Daiwa is cautious on the pace of margin recovery in 2018-19 given fierce
competition in the domestic SUV market. It lifted its forecast of WEY brand 2018 sales
volume to 290k units, from 260k units, but keep our 2019 forecast at 420k units.
Daiwa also lifted its 2018-19 EPS forecasts by 4-7% on higher assumptions for WEY brand
sales volume and the blended gross margin. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02333 GWMOTOR
Nominal 
11.220 +0.440 (+4.082%) Others
11/01/2018 11:10
[I-bank focus]Daiwa lifts Great Wall Motor (02333) to HK$8.3
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |