Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
01728 ZHENGTONGAUTO
RTNominal up0.247 +0.002 (+0.816%)
Others

03/10/2019 17:07

{I-bank focus}Morgan lowers Zhengtong Auto (01728) to HK$2.9

[ET Net News Agency, 3 October 2019] Morgan Stanley lowered its target price for China
Zhengtong Auto Services (01728) to HK$2.9 from HK$3.6 and maintained its "overweight"
rating.
The research house sees signs of an early volume recovery for JLR, with retail sales
growth recovering to 17% growth in August, mainly on a low base.
Although the sales discount remains deep at the retail end, Morgan expects JLR to narrow
the overall discount level gradually through model cycle refresh. Its channel checks
indicate that existing products such as the Land Rover Discovery Sport SUV still offer a
>20% discount, while the newly launched Range Rover Evoque SUV offers a little discount
but does offer an MSRP (manufacturer's suggested retail price) cut.
Morgan lowered Zhengtong's 2019-21 earnings estimates by 17-19% to reflect lower new car
sales and slower auto finance expansion. (KL)

Remark: Real time quote last updated: 28/03/2024 18:00
  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
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2024 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.