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<Research>HSBC Research Raises GWMOTOR's TP to $11.9; Overseas Sales Expected to Recover in 2Q25
Recommend 1 Positive 9 Negative 4 |
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According to a report from HSBC Global Research, GWMOTOR (02333.HK)'s 1Q25 net profit slightly beat the broker's expectations, yet its sales dropped by 7% YoY mainly because of higher tariffs increasing pressure on its export to and earnings in Russia, intensified investment in domestic direct sales channels, and a relatively dull new car cycle in 1Q. From HSBC Global Research's perspective, the YTD 10%/ 12% declines in GWMOTOR's A-shares/ H-shares have already reflected the pressure on export sales and earnings, especially in relation to the Russian market. The broker predicted the company's overseas sales to manage a mild QoQ recovery in 2Q25. HSBC Global Research lifted its target price for GWMOTOR from $8.8 to $11.9 and upgraded the rating from Reduce to Hold. AAStocks Financial News |
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