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RTNominal down22.950 -0.350 (-1.502%)
Research Report

09/09/2021 17:35

{I-bank focus}Macquarie raises Great Wall Motor to HK$38

[ET Net News Agency, 9 September 2021] Macquarie raised its target price for Great Wall
Motor (02333) to HK$38 from HK$21.82 and maintained its "outperform" rating.
The research house said it now forecast GWM to sell 1.40/1.68/2.02mn cars at a
24%/20%/20% YoY growth rate during FY21-23E with an EV penetration rate of
7.1%/14.9%/24.8% thanks to DHT vs. China's EV penetration rate of 9.0%/11.3%/14.1% over
the same period. (RC)

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