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01316 NEXTEER
RTNominal up6.240 +0.070 (+1.135%)
Research Report

16/10/2019 17:06

{I-bank focus}Credit Suisse lowers Nexteer (01316) to HK$8

[ET Net News Agency, 16 October 2019] Credit Suisse lowered its target price for
Nexteer Automotive (01316) to HK$8 from HK$10.4 and maintained its "outperform" rating.
Nexteer reported its order backlog as of 3Q to be US$25.4bn,
up 2%. The research house said the stable order backlog is mainly because the company
adjusted down China's production forecast.
The United Auto Workers' strike on General Motors, the largest customer of Nexteer
(accounted for 43% of total revenue), lasted for five weeks. Considering the negative
strike impact and weak China business, Credit Suisse lowered its 2019-21 EPS forecasts by
17%. (KL)

Remark: Real time quote last updated: 24/01/2020 17:59
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