DJ Great Wall Motor's Strong Product Pipeline May be a Growth Driver -- Market Talk
0726 GMT - Great Wall Motor's profit margins appear on track to improve, thanks to its strong product pipeline, Daiwa Capital says. It upgrades the automobile company's A-shares and H-shares to buy from outperform as share prices looks reasonable after their recent share-price declines. However, Daiwa trims its H-share target price to HK$29.00 from HK$31.00 and A-share target price to CNY46.00 from CNY41.00 as it expects the company's electric-vehicle sales volumes to fall slightly amid a chip shortage in China. Any new car models launched at the Shanghai Auto Show to be held later this month could be a positive share-price catalysts, Daiwa adds. The H-shares are up 1.1% at HK$24.20, while A-shares are 4.1% lower at CNY33.00. (yiwei.wong@wsj.com)
(END) Dow Jones Newswires
April 07, 2021 03:26 ET (07:26 GMT)
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