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<Research>HSBC Global Research Lifts GEELY AUTO TP to $19.3; Restructuring, Strong Product Cycle Back Growth
Recommend 14 Positive 27 Negative 8 |
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GEELY AUTO (00175.HK)'s 3Q earnings were in line, with equity restructuring improving synergies and accelerating product cycle supporting strong sales growth, HSBC Global Research noted in its report. The broker raised its target price for GEELY AUTO from $10.9 to $19.3, maintained its Buy rating, and lifted its profit forecasts for the company from 2024-26 by 21%/ 41%/ 28% respectively. The broker said GEELY AUTO's earlier announcement of the reorganization of ZEEKR (ZR.US) and Lynk & Co was envisioned to help streamline duplicated resources and enhance synergies between different channels, product mix, supply chain and production capacity. The broker forecast faster product cycles and better synergies between brands or models after the reorganization, and believed that the company will be able to maintain its sales momentum, targeting sales growth of 22% to 2.6 million units in 2025. AAStocks Financial News |
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