Citigroup Raises GEELY AUTO (00175) Target Price to HK$27, Reiterates "Buy" Rating

Stock News04-02 13:42

Citigroup has issued a research report highlighting that GEELY AUTO (00175) achieved sales of 233,000 vehicles in March, with total first-quarter sales reaching 704,000 units, surpassing the bank's forecasts. Additionally, March exports grew by 34% compared to the previous quarter, demonstrating strong performance, while the sales mix since the beginning of the year has also exceeded expectations. The bank stated that it has raised GEELY AUTO's target price from HK$26 to HK$27 and maintains a "Buy" rating. Considering an improved sales mix and favorable margin trends, Citigroup has increased its gross margin forecast for 2026 to 2028 by 0.2 percentage points and raised its net profit forecasts for each year by 3%, reaching RMB 19.9 billion, RMB 22.8 billion, and RMB 26 billion, respectively.

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