＜Research＞M Stanley Raises GWMOTOR (02333.HK) TP to $12.2, Rates Equalweight

　　Morgan Stanley released a research report, raising its profit forecasts on GWMOTOR (02333.HK) -0.020 (-0.161%) Short selling $34.17M; Ratio 13.617% for FY24 and FY25 by 13% and 7% respectively, reflecting a stronger profit outlook due to export growth, which will significantly ease the lukewarm sales performance in the mainland.

　　The launch of GWMOTOR's “Tank” series reflected that the company's premiumisation of its products remained unchanged, according to Morgan Stanley. However, compared with its peers, the company's strategy for new energy vehicles is relatively conservative. The broker believed that although the automaker's export performance has maintained good momentum, the reorganisation of its sales channels may take a longer time to complete and affect sales performance in the mainland market in the short term.

　　In view of the above factors, Morgan Stanley elevated its target price for GWMOTOR from $11.5 to $12.2 and rated it Equalweight.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-25 16:25.)

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