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<Research>Citi: Beta Rally Continues; BYD COMPANY, GEELY AUTO, GWMOTOR More Liked as 2025 Approaches
Recommend 35 Positive 62 Negative 17 |
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Citi Research expected the beta rally of China's auto industry to continue, taking into account that the sales of BYD COMPANY (01211.HK), XPENG-W (09868.HK) and LEAPMOTOR (09863.HK) in September exceeded market consensus; 3Q24 earnings of BYD COMPANY, GWMOTOR (02333.HK) and GEELY AUTO (00175.HK) are likely to beat market consensus; sector sales may show MoM growth in the peak season of auto sales in 4Q24. If beta re-rating accelerates, the broker believed stocks with solid earnings will become increasingly attractive. Entering 2025, Citi Research preferred BYD COMPANY, GEELY AUTO and GWMOTOR over high-beta stocks such as NIO-SW (09866.HK), XPENG-W and LI AUTO-W (02015.HK). AAStocks Financial News |
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