[ET Net News Agency, 10 February 2021] CCB International Securities (CCBIS) lifted its
target price for Guangzhou Automobile Group (GAC) (02338) to HK$11.5 from HK$9.9 and
maintained its "outperform" rating.
On the back of the brand's strong track record in China, Toyota will further benefit
from the PV market recovery with multiple brand new models, the research house said.
On the back of the strong market recovery expectation, CCBIS expects to see 14%/14%
volume growth for Toyota and 13%/10% volume growth for Honda in 2021/22. It expects that
Trumpchi cars will still under pressure despite the market recovery is widely expected.
CCBIS raised its 2021/22 earnings forecasts by 12%/10% to reflect a strong business
outlook for Japanese business thanks to industry consolidation and the post-pandemic
recovery. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02238 GAC GROUP
Nominal 
3.110 -0.050 (-1.582%) Others
10/02/2021 14:51
CCBIS lifts GAC Group (02338) to HK$11.5; "outperform"
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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