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<Research>Citi: GEELY AUTO (00175.HK) Sep Sales Beat Forecasts; Mkt May Raise 2024 Core NP Forecast by 20%
Recommend 18 Positive 54 Negative 13 |
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GEELY AUTO (00175.HK)'s September sales volume beat expectations, and the Company's core net profit for the current fiscal year may be 20% higher than market consensus at RMB9.5 billion-RMB9.8 billion, Citi Research issued a research report saying. Therefore, Citi Research maintained GEELY AUTO as one of its sector top picks, with a target price of $13.98 and rating at Buy. Citi Research saw 3 catalysts for GEELY AUTO in October, including improvements in E5 EV production and shipment to 18,000-19,000 units after supply chain recovering; the launch of GEELY AUTO's BEV Xingyuan on 9 Octobver, benchmarking BYD COMPANY (01211.HK)'s small sized EV; and the launch of Zeekr mix by the end of October by ZEEKR Intelligent Technology Holding Limited (ZK.US). AAStocks Financial News |
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