BUZZ-Geely Automobile jumps as brokers lift prices after restructuring

Reuters11-18

** Shares of Geely Automobile Holdings jump 5.9% to HK$13.96, on course for the biggest one-day pct gain since Oct. 25

** Geely said on Thursday its premium electric vehicle maker Zeekr plans to take control of Lynk & Co, a sister brand

** Stock on track to snap five straight sessions of losses; top pct gainer in Hang Seng Index and Hang Seng Commerce & Industry Index , which are up 1.2% and 0.9% respectively

** Jefferies maintains "buy" rating and lifts PT to HK$16.20 from HK$12.70; says restructuring marks the start of streamlining EV assets and improving operational efficiencies

** Morningstar maintains positive view on Geely and raises fair value estimate to HK$17.50 from HK$15, saying stock is undervalued; adds that new energy vehicle initiatives show progress and investors underestimate long-term value of Zeekr and Galaxy brands

** Hang Seng China Enterprises Index climbs 1.5% and Hang Seng Tech Index gains 1%

** Geely stock up 53.6% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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