{I-bank focus}JEF raises Great Wall Motor (02333) to HK$35

    Jefferies Research raised its target price for Great Wall Motor (GWM) (02333) to HK$35 from HK$20.2 and maintained its "buy" rating.
  The research house said GWM's volume should grow 21%/11% in FY2021/22 ahead of the sector. Millennial car owners' acceptance of its NEV ORA brand pointed to potential brand upgrade ahead of launches of new Lidar-model (L3+) in 2H 2021 and premium/tech models in
FY2022.
  Jefferies reiterated the firm's tech leadership versus legacy peers and lifted 2021/22 earnings forecasts to grow 60%/39%.