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<Research>CMBI Raises 2026-27 Earnings Forecasts for LEAPMOTOR, But Trims TP to HKD60
Recommend 4 Positive 1 Negative 4 |
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LEAPMOTOR (09863.HK)'s 4Q25 net profit was largely in line with forecasts, and the management's guidance is optimistic, CMBI wrote in its research report. Even though LEAPMOTOR's A-series vehicles may contribute more to sales, it is believed that the soon-to-be-launched D19 SUV and D99 MPV will be crucial to the carmaker's profit margin and valuation. CMBI has raised its 2026-27 net profit forecasts for LEAPMOTOR by 20% and 2% to RMB3.6 billion and RMB4.6 billion, respectively. It has kept LEAPMOTOR's rating at Buy, but it slashed its target price from HKD73 to HKD60 based on a forecast P/E ratio of 21x for the full year of 2026. AAStocks Financial News |
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