Goldman Sachs Initiates Coverage on LEAPMOTOR with a 'Buy' Rating and HK$50 Price Target

Stock News06-17

Goldman Sachs has issued a research report initiating coverage on LEAPMOTOR (09863) with a 'Buy' rating, setting a price target of HK$50.

The bank views LEAPMOTOR as a leading pure-play new energy vehicle manufacturer, poised to launch a series of competitive new models and smoothly advance production. This is expected to drive a sustained acceleration in domestic market growth over the next three quarters.

Goldman Sachs notes that the company's overseas retail sales surged 554% year-on-year in the first quarter, providing strong support. Against the bank's own estimate of 200,000 units, the company's overseas sales target for 2026 of 125,000 vehicles implies a potential upside of approximately 60%. Overall, the bank projects a compound annual growth rate of 48% for revenue and 143% for profit from 2025 to 2027.

However, the report highlights that the stock currently trades at a discount of roughly 60% compared to its peers on both price-to-earnings and price-to-sales ratios.

Key catalysts for LEAPMOTOR are identified as the launch of new models, a ramp-up in monthly deliveries, and an acceleration in exports to meet robust retail demand. Goldman Sachs' profit forecasts for the company exceed market consensus, primarily driven by higher sales volume expectations. Based on more optimistic sales assumptions for overseas markets, the bank anticipates that LEAPMOTOR's models will rank among the top three in certain international markets, with strong retail demand expected to further accelerate the company's monthly export growth.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1144536000?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-06-17 11:45","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1144536000","market":"hk","top_or_hot":-1,"title":"Goldman Sachs Initiates Coverage on LEAPMOTOR with a 'Buy' Rating and HK$50 Price Target","media":"Stock News","content":"<p>Goldman Sachs has issued a research report initiating coverage on <b>LEAPMOTOR</b> (<b>09863</b>) with a 'Buy' rating, setting a price target of HK$50.<br><br>The bank views <b>LEAPMOTOR</b> as a leading pure-play new energy vehicle manufacturer, poised to launch a series of competitive new models and smoothly advance production. This is expected to drive a sustained acceleration in domestic market growth over the next three quarters.<br><br>Goldman Sachs notes that the company's overseas retail sales surged 554% year-on-year in the first quarter, providing strong support. Against the bank's own estimate of 200,000 units, the company's overseas sales target for 2026 of 125,000 vehicles implies a potential upside of approximately 60%. Overall, the bank projects a compound annual growth rate of 48% for revenue and 143% for profit from 2025 to 2027.<br><br>However, the report highlights that the stock currently trades at a discount of roughly 60% compared to its peers on both price-to-earnings and price-to-sales ratios.<br><br>Key catalysts for <b>LEAPMOTOR</b> are identified as the launch of new models, a ramp-up in monthly deliveries, and an acceleration in exports to meet robust retail demand. Goldman Sachs' profit forecasts for the company exceed market consensus, primarily driven by higher sales volume expectations. Based on more optimistic sales assumptions for overseas markets, the bank anticipates that <b>LEAPMOTOR</b>'s models will rank among the top three in certain international markets, with strong retail demand expected to further accelerate the company's monthly export growth.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Sachs Initiates Coverage on LEAPMOTOR with a 'Buy' Rating and HK$50 Price Target</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Sachs Initiates Coverage on LEAPMOTOR with a 'Buy' Rating and HK$50 Price Target\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-06-17 11:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Goldman Sachs has issued a research report initiating coverage on <b>LEAPMOTOR</b> (<b>09863</b>) with a 'Buy' rating, setting a price target of HK$50.<br><br>The bank views <b>LEAPMOTOR</b> as a leading pure-play new energy vehicle manufacturer, poised to launch a series of competitive new models and smoothly advance production. This is expected to drive a sustained acceleration in domestic market growth over the next three quarters.<br><br>Goldman Sachs notes that the company's overseas retail sales surged 554% year-on-year in the first quarter, providing strong support. Against the bank's own estimate of 200,000 units, the company's overseas sales target for 2026 of 125,000 vehicles implies a potential upside of approximately 60%. Overall, the bank projects a compound annual growth rate of 48% for revenue and 143% for profit from 2025 to 2027.<br><br>However, the report highlights that the stock currently trades at a discount of roughly 60% compared to its peers on both price-to-earnings and price-to-sales ratios.<br><br>Key catalysts for <b>LEAPMOTOR</b> are identified as the launch of new models, a ramp-up in monthly deliveries, and an acceleration in exports to meet robust retail demand. Goldman Sachs' profit forecasts for the company exceed market consensus, primarily driven by higher sales volume expectations. Based on more optimistic sales assumptions for overseas markets, the bank anticipates that <b>LEAPMOTOR</b>'s models will rank among the top three in certain international markets, with strong retail demand expected to further accelerate the company's monthly export growth.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EWH","symbol_name":"香港ETF-iShares MSCI","start_time":0,"source_url":"","article_id":"1144536000","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1144536000","pubTimestamp":1781667948,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"Goldman Sachs has issued a research report initiating coverage on LEAPMOTOR (09863) with a 'Buy' rating, setting a price target of HK$50.The bank views LEAPMOTOR as a leading pure-play new energy...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"EWH":"香港ETF-iShares MSCI","09863":"零跑汽车","BK1119":"汽车制造商"},"translate_title":"高盛首次对零跑汽车给予“买入”评级和50港元目标价","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EWH":1,"09863":1},"content_text":"Goldman Sachs has issued a research report initiating coverage on LEAPMOTOR (09863) with a 'Buy' rating, setting a price target of HK$50.The bank views LEAPMOTOR as a leading pure-play new energy vehicle manufacturer, poised to launch a series of competitive new models and smoothly advance production. This is expected to drive a sustained acceleration in domestic market growth over the next three quarters.Goldman Sachs notes that the company's overseas retail sales surged 554% year-on-year in the first quarter, providing strong support. Against the bank's own estimate of 200,000 units, the company's overseas sales target for 2026 of 125,000 vehicles implies a potential upside of approximately 60%. Overall, the bank projects a compound annual growth rate of 48% for revenue and 143% for profit from 2025 to 2027.However, the report highlights that the stock currently trades at a discount of roughly 60% compared to its peers on both price-to-earnings and price-to-sales ratios.Key catalysts for LEAPMOTOR are identified as the launch of new models, a ramp-up in monthly deliveries, and an acceleration in exports to meet robust retail demand. Goldman Sachs' profit forecasts for the company exceed market consensus, primarily driven by higher sales volume expectations. Based on more optimistic sales assumptions for overseas markets, the bank anticipates that LEAPMOTOR's models will rank among the top three in certain international markets, with strong retail demand expected to further accelerate the company's monthly export growth.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1144536000","isCrawlerRequest":true}