[ET Net News Agency, 5 August 2019] Jefferies Research lowered its target price for
Brilliance China Automotive (01114) to HK$9.7 from HK$10 and maintained its "buy" rating.
The research house said China luxury car market is far from saturation with only 6%
penetration on installment base.
Jefferies said Brilliance has shown the posture to 100% pass-through BBA dividends to
Brilliance shareholders in July. Total dividends yields in the next three years reach
100%.
In addition, the remaining 25% of BBA stake should be valued as BMW proxy. The concern
for BBA used as a cost center is overstretched as BMW may not take further actions to
squeeze Brilliance within next five years. (KL)
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01114 BRILLIANCE CHI
Nominal 
7.040 -0.010 (-0.142%) Others
05/08/2019 14:54
{I-bank focus}Jefferies lowers Brilliance China to HK$9.7
| Remark: | Real time quote last updated: 18/04/2024 10:31 |
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