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<Research>JPM: GEELY AUTO (00175.HK) $2.3B Buyback Plan Reflects Mgmt Confidence; Rating Overweight/ TP $22
Recommend 15 Positive 38 Negative 6 |
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GEELY AUTO (00175.HK) recently announced that its Board has approved a share buyback proposal worth $2.3 billion, JPMorgan released a research report saying. JPMorgan believed that this buyback proposal indicates GEELY AUTO management's confidence in the Company's future, including potential profitability or stock price upside in 2026, when subsidy programs expire and overall car demand may slow or decline. Therefore, the broker kept rating at Overweight on GEELY AUTO, with a target price of $22. JPMorgan held a constructive view on GEELY AUTO's strong vehicle cycle based on its platform strategy, which should help GEELY AUTO continue to gain market share. The broker was also optimistic about GEELY AUTO's long-term prospects and technological leadership in challenging markets through partnerships or joint ventures with global/regional leaders such as Daimler and CATL (03750.HK). AASTOCKS Financial News Website: www.aastocks.com |
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