TC

21/10/2019 14:30

{I-bank focus}Huatai raises Yongda Auto (03669) to HK$10

   Huatai Research raised its target price for Yongda Auto Service (03669) to HK$10 from HK$9 and maintained its "buy" rating.
  The research house believes Yongda will continue to benefit from potential rising demand for premium autos and steady growth in aftersales services in the coming years. Huatai estimated NPAT will rise 20% to RMB1,504mn in 2019, and continues to have double-digit growth in 2020-2021.
  Huatai reviewed its assumptions and lowered its earnings estimates by 5-13% for 2020-21.

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