[I-bank focus]Macquarie cuts Geely (00175) to "underperform"

    Macquarie raised its target price for Geely Automobile (00175) to HK$3.6 from HK$3 on rollover, but downgraded the stock to "underperform" from "neutral".
  While Geely has both good technology and a solid dealer network, the research house said it is missing the key ingredient - attractive new product. There is the promise of new product in 2015, but given the recent weak track record in delivering attractive product on time, the house wants to see the advanced concept models before building them into its forecasts.