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RTNominal up16.880 +0.120 (+0.716%)

10/07/2020 17:05

Guotai Junan lifts Geely Auto (00175) to HK$20; "accumulate"

[ET Net News Agency, 10 July 2020] Guotai Junan International raised its target price
for Geely Automobile (00175) to HK$20 from HK$14.6 and maintained its "accumulate" rating.
The research house said Geely Auto's sales in June continued to show strong momentum,
partly due to pent-up demand, supportive government policies, and low base comparison.
Guotai expects that sales in 3Q will slightly slow down on a higher base and fading out
effect from pent-up demand. It noted that the stock price has reacted positively since the
announcement of a plan to list on the Sci-Tech Board of the Shanghai Exchange. Based on
the current market sentiment and Geely's positive outlook, Guotai believes that it can
maintain the current valuation. (KL)

Remark: Real time quote last updated: 11/08/2020 17:58
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