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<Research>Deutsche Bank Adds GEELY AUTO's TP to $21, Expects Record High Earnings in 1Q25
Recommend 18 Positive 34 Negative 11 |
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GEELY AUTO (00175.HK)'s 2024 net profit soared by 213% YoY to RMB16.6 billion, beating expectations, according to a Deutsche Bank report. GEELY AUTO's car sales rose by 45% YoY in 2M25, significantly exceeding the company's full-year growth target of 25% YoY. Deutsche Bank predicted the company to record wholesale volume of 215,400 vehicles this month, driving 1Q sales to 687,000 vehicles, marking a new quarterly sales record. In addition, the company is anticipated to achieve operating earnings and recurring net profit of RMB3.65 billion and RMB3.25 billion respectively, both setting record highs. The broker raised its target price for GEELY AUTO from $20 to $21 and its 2025 net profit forecast by 3.7%, with a Buy rating. AAStocks Financial News |
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