[I-bank focus]Macquarie lifts BAIC Motor (01958) to HK$12

    Macquarie Research lifted its target price for BAIC Motor Corp (01958) to HK$12 from HK$8.1, and maintained its "outperform" rating.
  The research house said BAIC should have superior earnings growth in coming years (+74% in FY2016, +34% in FY2017 and +20% in FY2018), primarily driven by strong volume and earnings growth from the Beijing-Benz JV.
  Macquarie raised its earnings estimates by 13%, 12% and 12% for FY2016-18, respectively, to reflect the strong momentum of Beijing-Benz and improved profitability of the BAIC local brand.