I-bank focus]UOBKH ups Brilliance China (01114) to HK$15.5
2017-03-13 10:51:00.0
[ET Net News Agency, 13 March 2017] UOB Kay Hian raised its target price for Brilliance
China Automotive (01114) to HK$15.5 from HK$9, and upgrade its rating to "buy" from
"hold".
The research house said sales of BBA is growing faster than expected, driven by existing
models (5-series and 3-series) and new models (new X1). Pricing also improved with retail
discount narrowed. BBA is entering a new product cycle with three new models in the next
12 months (1-series, new 5-series and X3). The new 5-series will debut in July this year,
earlier than expected.
UOBKH raised its 2017-18 earnings by 27-28% to Rmb4.82bn (Rmb1.09/share) and Rmb5.99bn
(Rmb1.19/share), implying yoy growths of 36% and 24% respectively. (KL)
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