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<Research>BOCI Raises GEELY AUTO (00175.HK) TP to $19, Rating Buy
Recommend 22 Positive 43 Negative 10 |
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BOCI issued a research report expecting GEELY AUTO (00175.HK)'s earnings to continue to recover in the next 2 years and is on track to surpass the profit peak during the last earnings upcycle (2016-2018), with GEELY AUTO (00175.HK) continuing to make breakthroughs in the NEV market and strengthening its position in the oil-fueled vehicle market. GEELY AUTO's share price is currently trading at 10x of projected 2025 PE ratio. The broker believed that the current valuation has not yet reflect the Company's success in NEV transition and the certainty of sales and earnings growth in 2025. BOCI reiterated rating at Buy on GEELY AUTO, and raised its target price to $19, forecasting the turnaround of the Galaxy brand and the potential cost reduction brought by the Group's strategic consolidation to drive growth in both valuation and earnings. AAStocks Financial News |
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