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<Research>Macquarie: Mkt Still Underestimates GEELY AUTO's Mid-Term EV Strategy Potential Boost
Recommend 20 Positive 48 Negative 19 |
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According to a Macquarie report, regarding the Lynk & Co/ Zeekr (ZK.US) merger, GEELY AUTO (00175.HK)'s management reiterated that Lynk & Co's valuation is reasonable and transparent, and that GEELY AUTO does not require cash from this transaction. In addition, the Lynk & Co/ Zeekr merger can eliminate product overlap between brands and prevent sales cannibalization. GEELY AUTO's chairman Eric Li recently increased his personal holdings in the company by 24.2 million shares, involving $316 million and demonstrating confidence in the transaction's value, the management added. Macquarie maintained its financial forecast for GEELY AUTO, believing the market is still underestimating the potential boost of the company's mid-term EV strategy. The broker kept the Outperform rating unchanged, with a target price of $18. AAStocks Financial News |
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