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Research Report

17/03/2020 11:27

{I-bank focus}Daiwa trims Great Wall Motor (02333) to HK$5.4

[ET Net News Agency, 17 March 2020] Daiwa Research lowered its target price for Great
Wall Motor (GWM)(02333) to HK$5.4 from HK$6.3 and maintained its "outperform" rating.
The research house expects GWM's long-term growth to remain intact despite the negative
impact of COVID-19 in the near term. Daiwa expects GWM's sales volume to recover in 2Q
after a 50% decline in the first two months of 2020.
Daiwa cut its 2020 net profit by 16% as it lowered its 2020 sales volume by 5%. It also
lowered its 2020 gross margin to 13.8% from 14.3%. (KL)

Remark: Real time quote last updated: 29/05/2020 17:58
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