[ET Net News Agency, 21 October 2019] Huatai Research raised its target price for
Yongda Auto Service (03669) to HK$10 from HK$9 and maintained its "buy" rating.
The research house believes Yongda will continue to benefit from potential rising demand
for premium autos and steady growth in aftersales services in the coming years. Huatai
estimated NPAT will rise 20% to RMB1,504mn in 2019, and continues to have double-digit
growth in 2020-2021.
Huatai reviewed its assumptions and lowered its earnings estimates by 5-13% for 2020-21.
(KL)