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<Research>Citi Reiterates Buy for BRILLIANCE CHI (01114.HK), Raises TP to $4.8
Recommend 32 Positive 55 Negative 31 |
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Citi published a research report, covering BRILLIANCE CHI (01114.HK). The broker said the company will hail three new growth drivers next year: the high-profit export sales of its "Jinbei" brand will elevate, while domestic market share will rise, and the adoption of industrial robots can reduce production costs and enhance manufacturing efficiency, improving profit prospects; the export sales of Brilliance BMW were expected to advance, creating upward profit potential; and Brilliance BMW's enhanced auto parts localization should help stabilize margin. The broker raised BRILLIANCE CHI's target price from HK$3.75 to HK$4.8, reiterating a Buy/High Risk rating. It forecast that Brilliance BMW's retail sales in November will grow by 4% MoM to 46,000 units, with overall inventory likely to remain at a healthy level by the end of the year. AASTOCKS Financial News Website: www.aastocks.com |
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