[ET Net News Agency, 8 January 2020] Jefferies Research assumed coverage on Guangzhou
Automobile Group (GAC)(02238) with a "buy" rating and a target price of HK$12.4.
The research house said GAC is a key beneficiary of Greater Bay Area development and the
Guangdong auto stimulus. Model wise, Trumpchi is already released from inventory pressure
due to emission standard upgrade but still needs time to recover from price and margin
erosion via the launch of new models.
The ride-hailing partnership with Tencent (00700) should boost NEV (new energy vehicle)
sales to meet dual-credit system requirements, and likely generate equity/investment
income gain in the medium term, Jefferies said. The outlook for the Japanese joint-venture
is exciting with nearly double-digit growth for FY2020-21. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02238 GAC GROUP
Nominal 
3.110 +0.020 (+0.647%) Research Report
08/01/2020 14:41
{I-bank focus}Jefferies restarts GAC Group at HK$12.4
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |