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02858 YIXIN
RTNominal up0.730 +0.030 (+4.286%)
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29/11/2018 14:52

[I-bank focus]Credit Suisse lowers Yixin (02858) to HK$2.44

[ET Net News Agency, 29 November 2018] Credit Suisse lowered its target price for Yixin
Group Limited (02858) to HK$2.44 from HK$4, and downgraded its rating to "neutral" from
"outperform".
The research house said they trim the 2018E/19E adjusted net income by 48%/51% to
reflect weaker-than-expected auto retail sales and intensified competition in the auto
finance market. Its new TP of HK$2.44 (from HK$4.00) is based on 19x 2019E adjusted
earnings.
They view the visibility in the recovery of auto sales and transition towards loan
facilitation model to be low currently. (RC)

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