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<Research>DBS Lifts GWMOTOR (02333.HK) TP to $16.3 as Overseas Expansion Bears Fruit
Recommend 5 Positive 20 Negative 8 |
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GWMOTOR (02333.HK)'s 2Q24 earnings surged 224% YoY to RMB3.9 billion, while gross profit margin grew 3.6 ppts to 17.5%, DBS Group Research issued a research report saying. DBS Group Research expected GWMOTOR's overseas expansion to be a strong growth driver, with its Brazilian plant going into production in 2H24. Taking into account the interim results and glamorous overseas sales, DBS Group Research raised its 2024/ 2025 earnings forecasts by 26%/ 31% respectively, and lifted its target price from $15 to $16.3, with rating kept at Buy. AAStocks Financial News |
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