Great Wall Motor's Exports to Russia Could Support Earnings in Coming Quarters -- Market Talk

Dow Jones04-03

0630 GMT - Great Wall Motor's growing presence in Russia could contribute significantly to earnings in coming quarters, CCB International analyst Ke Qu says in a research note. However, the analyst notes that the car maker's midterm outlook remains uncertain due to geopolitical factors and the fact that Chinese brands already account for nearly two-thirds of Russia's new car market. CCB maintains its 2024 and 2025 sales volume forecasts of 1.42 million and 1.58 million units, respectively, saying it already reflects the increasingly competitive landscape both domestically and internationally. CCB maintains a neutral view on Great Wall Motor and maintains a target price of HK$8.80. Shares were last at HK$9.25.(sherry.qin@wsj.com)

(END) Dow Jones Newswires

April 03, 2024 02:30 ET (06:30 GMT)

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