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<Research>CLSA Reiterates Rating at High Conviction Outperform for GEELY AUTO (00175.HK) as Zeekr Privatization Expected to Reduce Operating Leverage
Recommend 7 Positive 27 Negative 7 |
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GEELY AUTO (00175.HK) announced that it made a privatization proposal to Zeekr (ZK.US), with the purchase price representing a 20% premium to the volume-weighted average price of Zeekr over the past 30 trading days. The price is equivalent to about 0.43x of the 2024 PS ratio of Zeekr, which is expected to be an important step in the realization of the “One Geely” strategy, as it would help reduce the overall operating leverage and enable the Group to better implement its multi-brand strategy in the long run, CLSA released a research report saying. Therefore, the broker reiterated rating at High Conviction Outperform for GEELY AUTO, and kept its target price at $23. AAStocks Financial News |
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