Great Wall Motor May Expand Overseas Market This Year -- Market Talk

Dow Jones02-08

0241 GMT - Great Wall Motor is likely to expand its overseas market this year, with a market mix of 50% in Russia, 20% in Latin America and 15% in Australia and New Zealand, Citi analysts say in a note. The Chinese automaker has maintained its 2024 export target of 500,000 units, driven by the recovery of the Russian market, they note. However, the management has highlighted potential policy risks from EU's anti-subsidy policies which may increase the costs of entering the European market, they add. Citi analysts maintain a buy for the stock and the target price of HK$10.90. Shares last at HK$8.36. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

February 07, 2024 21:41 ET (02:41 GMT)

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Citi analysts maintain a buy for the stock and the target price of HK$10.90. Shares last at HK$8.36. 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