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<Research Report>C Suisse Cuts GREATWALL MOTOR TP to $10.9, Rating Neutral
Recommend 34 Positive 33 Negative 36 2023/02/03 10:21
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GREATWALL MOTOR (02333.HK)’s 4Q22 results were lower than market expectations, with recurrent profit falling by 64% YoY and 91% QoQ to RMB196 million, Credit Suisse said in a report. The broker was surprised by the lower-than-expected recurrent profit margin of 0.5%, the lowest level in the past 11 quarters. Considering the lower-than-expected profit margin, Credit Suisse lowered GREATWALL MOTOR’s 2022-24E EPS by 16.2-38%, and the TP of its H shares from $11 to $10.9, while GREAT WALL MOTOR(601633.SH)'s TP was cut from RMB11 to RMB10.5. AAStocks Financial News |
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