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<Research>HSBC Research Upgrades GWMOTOR (02333.HK) to Hold, Lifts TP to $11.9
Recommend 4 Positive 11 Negative 6 |
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GWMOTOR (02333.HK)'s 1Q25 earnings were weak, while pressure on export sales and gross profit has been broadly priced in, according to a research report issued by HSBC Global Research. A new auto cycle will start from 2Q25, with more new models to be rolled out from 2Q25 onwards, which is likely to realize QoQ sales growth. HSBC Global Research upgraded GWMOTOR from Underweight to Hold, and raised its 2025/ 2026 profit forecasts by 7-14%, mainly due to the higher sales volume forecasts. The broker lifted its target price from $8.8 to $11.9. AAStocks Financial News |
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