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00175 GEELY AUTO
RTNominal down13.860 -0.880 (-5.970%)
Research Report

04/12/2019 10:42

{I-bank focus}Morgan lifts Geely Automobile (00175) to HK$14

[ET Net News Agency, 4 December 2019] Morgan Stanley raised its target price for Geely
Automobile Holdings (00175) by 12% to HK$14 and maintained its "equal-weight" rating.
The research house said Geely's monthly sales growth turned positive in October for the
first time in seven months and grew 2.5%. Notably, the sales volume of Lynk brand
rebounded from the low level of 8.6k units in July to over 14k units, better than Morgan
expected.
As some of Geely's models, such as the Boyue, recorded better sales than Morgan
expected. It thus raised Geely's net profit assumptions for 2019-21 by 2-12% on gross
profit assumptions by 2-9%. (KL)

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