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<Research>Citi Lifts GEELY AUTO (00175.HK) TP to $19.4, Hikes 2025 Sales Forecast
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Citi, in its research report, raised the target price of GEELY AUTO (00175.HK) from $15.58 to $19.4, with a rating of Buy. The broker hiked its sales forecasts of the automaker for 2025 and 2026 by 14% and 16% to 2.47 million and 2.63 million units. The GPM was also expected to rise by 0.1 ppt and 0.2 ppts to 16.5% and 16.8% respectively due to better scale effect. As a result, the NP forecast for 2025 and 2026 was revised from RMB11.74 billion and RMB14.33 billion to RMB12.2 billion and RMB15.39 billion. According to its channel checks, orders for the E5 reached around 35,000 vehicles, and orders for the Xing Yuan reached the 60,000 vehicle level. Geely was expected to launch another key PHEV products Galaxy Starship 7 in November. AAStocks Financial News |
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