[I-bank focus]DB cuts BAIC Motor (01958) to HK$9.3

    Deutsche Bank cut its target price for BAIC Motor (01958) to HK$9.3 from HK$10.1, and retained its "buy" rating.
  It said BAIC Motor's share price fell by 31% since April. The research house said investors concerns on the outlook of Beijing Hyundai and Beijing Motor appeared to magnify in July when the company reported that 2Q sales volume of both local brands were down by 14.3% and 28.1%, respectively.
  But DB thinks that market concerns are already more than priced in, and it still envisioned a gradual recovery in 2H given easing inventory and more new model contribution, e.g. Beijing Hyundai new Tucson and more SUV models from Beijing Motor.