Morgan Stanley resumes coverage of Geely with overweight rating due to industry challenges navigation

From CNBC: 2024-06-30 06:51:39

Morgan Stanley has resumed coverage of Geely with an overweight rating due to the automaker’s ability to navigate industry challenges and market consolidation. Geely has limited exposure to the EU and is focusing on new energy vehicles to drive growth, with a projected 22% sales increase this year. Quarterly revenue for Geely rose 56% to 52.32 billion yuan, with profit doubling year over year. Morgan Stanley set a price target of HK$11.20, anticipating profit growth and sustainability amid macroeconomic uncertainties.



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