[ET Net News Agency, 30 June 2020] Daiwa Research lifted its target price for BAIC
Motor (01958) to HK$4 from HK$3.8 and maintained its "buy" rating.
The research house raised its 2020-21 EPS forecasts by 5% each due to strong Beijing
Benz sales in April-May (13-16%). BAIC Motor has partnered with CATL on battery
procurement and also EV battery (LiB) technology development, particularly on cost
reduction.
Daiwa expects a downward trend in its NEV battery cost with battery technology
breakthroughs over 2021-22. Over the long run, it believes that a potential NEV/ICE (new
energy vehicle/internal combustion engine) cost parity will likely lead to a turnaround
for its own brand, which was still loss-making in 2019 (loss of CNY6bn).
Daiwa raised its 2020-21 EPS forecasts by 4.5-5.2% on higher sales forecasts for Beijing
Benz. (KL)
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01958 BAIC MOTOR
Nominal 
2.140 -0.010 (-0.465%) Others
30/06/2020 17:54
{I-bank focus}Daiwa lifts BAIC Motor (01958) to HK$4
| Remark: | Real time quote last updated: 19/04/2024 17:10 |
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