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<Research>BofAS Lifts GWMOTOR (02333.HK) TP to $13.8 as 1Q24 Earnings Beat
Recommend 17 Positive 37 Negative 13 |
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GWMOTOR (02333.HK)'s 1Q24 earnings beat estimations, and raising its 2024-26 sales forecasts by 5%/ 6%/ 7% each, BofA Securities issued a research report saying. BofA Securities also increased its gross profit margin forecasts to reflect an improved product mix. For net profit, BofA Securities added its 2024-26 net profit forecasts by 22%/ 16%/ 17%, respectively. BofA Securities lifted its target price on GWMOTOR's H-shares from $12.3 to $13.8, and reiterated rating at Buy as it expected its strong earnings growth to be supported by factors such as increased contribution from overseas sales, better economies of scale and improved product mix. AAStocks Financial News |
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