[ET Net News Agency, 29 January 2020] UOB Kay Hian cut its target price for Dongfeng
Motor Group (DFM)(00489) to HK$8.5 from HK$10 and maintained its "buy" rating.
The research house expects DFM's 2020 earnings to be hit by the pneumonia-like epidemic
in Wuhan and nearby areas. In 2019, nearly one-third of DFM's production volume came from
Wuhan city and nearly half from Hubei province. The lockdown of Wuhan city and nearby
areas would affect production at DFM's plants there.
UOBKH trimmed its 2020-21 net profit forecasts by 0.6% and 4.9% to Rmb14,720m and
Rmb14,554m respectively. It expects the exceptional gains from the disposal of the PSA
stake to largely offset the impact of the production disruption caused by the lockdown of
Wuhan. (KL)
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00489 DONGFENG GROUP
Nominal 
2.030 +0.060 (+3.046%) Research Report
29/01/2020 11:53
{I-bank focus}UOBKH cuts Dongfeng Motor (00489) to HK$8.5
| Remark: | Real time quote last updated: 20/09/2024 12:07 |
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