M Stanley Reiterates Overweight on GEELY AUTO; Expects New Models to Back GPM Growth 2017/11/07 11:04
"Morgan Stanley, in its report, said GEELY AUTO (00175.HK) +1.350 (+5.455%) Short selling $92.24M; Ratio 9.278% announced its October sales volume was about 125,000 units (up 31% yearly and up 15% monthly), of which, about 27,000 units of new Emgrand model were sold, up by about 8% yearly.
The broker felt positive as Geely's Lynk & Co SUV can penetrate the mid-to-high-end SUV market. Also, Geely has rolled out New Vision X1 and X3 in May and August this year, and will introduce three more car models this year, so the broker expected these to back the manufacturer's sales volume growth. Morgan Stanley thus estimated the 2H17 gross profit margin to rise.
The broker kept the rating Overweight with target price of $30, equivalent to 16.3x 2018 "
BofAML: GEELY AUTO Oct Auto Sales Hit New High Again; Top Pick OEMs 2017/11/07 10:15
"Bank of America Merrill Lynch said in its report that GEELY AUTO (00175.HK) +1.300 (+5.253%) Short selling $92.24M; Ratio 9.278% 's October car sales volume hit a new high of 125,000 units, up 30% yearly and 15% monthly. For the first ten months of this year, car sales volume reached 952,000 units, up 72% yearly, accounting for 87% of company’s guidance and 80% of the broker's forecast.
Bank of America Merrill Lynch believed that the automaker to deliver full-year sales better than the company's expectations, meeting the broker's forecast. The broker listed Geely as its top pick in Greater China auto OEMs sector with rating reiterated Buy on the company with target price of $34."
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