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<Research>UBS: GEELY AUTO (00175.HK) 1Q Results in Line with Forecasts
Recommend 7 Positive 12 Negative 8 |
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GEELY AUTO (00175.HK)'s 1Q24 results were in line with expectations, UBS released a research report saying. Of which, net profit was 6% higher than UBS' estimation, while operating profit was 9% lower than the broker's anticipation. Gross profit margin was 13.7%, higher than UBS' forecast of 12%. The above mentioned 1Q24 results may beat some investors' expectations, as GEELY AUTO's net profit performance in 1Q24 has almost reached 100% of 1HFY2023, UBS said. However, news of intense price competition may have exacerbated investors' concerns about the Company's margin. Summarizing the above factors, UBS rated GEELY AUTO at Buy, with a target price of $13. AAStocks Financial News |
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