Stock Track | Geely Auto Soars 6.53% as EV Restructuring Boosts Outlook

Stock Track11-18

Shares of Geely Automobile Holdings (00175) surged 6.53% on Monday, outperforming the broader market. The rally came after the company announced plans for its premium electric vehicle maker Zeekr to take control of Lynk & Co, a sister brand.

The restructuring move was viewed positively by analysts, who believe it will streamline Geely's electric vehicle assets and improve operational efficiencies. Jefferies maintained a "buy" rating on Geely and raised its price target to HK$16.20, citing the start of streamlining EV assets as a positive development.

Morningstar also maintained a positive view on Geely and raised its fair value estimate to HK$17.50. The firm noted that investors may be underestimating the long-term value of Geely's EV initiatives like Zeekr and Galaxy brands, which are showing progress.

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