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<Research>BOCI Lifts GEELY AUTO (00175.HK) TP to $32, Expects Firm to Challenge Leading Position
Recommend 52 Positive 87 Negative 24 |
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GEELY AUTO (00175.HK)'s 2Q25 revenue grew 7.3% QoQ, while sales remained flat, according to BOCI's research report. Core net profit slightly decreased from RMB3.5 billion in 1Q25 to RMB3.2 billion, roughly in line with expectation. The broker was optimistic that GEELY AUTO will continue to narrow the gap with the current EV leader, based on its expanding domestic market share, upcoming overseas expansion and leadership in smart EV technology. GEELY AUTO's current valuation is significantly discounted and does not fully reflect its potential to challenge BYD COMPANY (01211.HK)'s dominant position in the foreseeable future, BOCI noted. Therefore, the broker reiterated rating at Buy, and lifted its target price from $29 to $32. AASTOCKS Financial News Website: www.aastocks.com |
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