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Last Update as at 26 Feb 15:10 (HKT)<Research Report>Citi Lifts GEELY AUTO (00175.HK) TP to $58.66, Rated Buy

Citigroup said GEELY AUTO (00175.HK) is building an NEV alliance, expecting the stock price to double by late 2021. The carmaker's target price was lifted from $57.9 to $58.66.

The broker lowered the firm's diluted EPS to RMB1.36 for 2021E and RMB1.99 for 2022E. The 2020E net profit was kept at RMB7.6 billion, above street consensus. Staying as the sector top-pick, GEELY AUTO was rated at Buy.
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