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Research Report

14/07/2020 17:52

{I-bank focus}BOCOM ups Geely Automobile (00175) to HK$25.4

[ET Net News Agency, 14 July 2020] BOCOM Research lifted its target price for Geely
Automobile (00175) to HK$25.4 from HK$15.5 and maintained its "buy" rating.
The research house believes Geely's car sales are recovering from the pandemic faster
than the market expected. The sales growth started to see a rebound in 2Q, up 14% compared
with a 44% decline in 1Q.
BOCOM thinks Geely's sales recovery is likely to carry on in 2H, underpinned by SUV
demand and PV recovery in China. Meanwhile, it sees A-share listing and a potential merger
with Volvo Cars as the major near-term factors to trigger re-rating. (KL)

Remark: Real time quote last updated: 28/09/2020 17:59
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