tiprankstipranks
Trending News
More News >

Geely Automobile Holdings: Strong Q1 Performance and Strategic Moves Justify Buy Rating

Geely Automobile Holdings: Strong Q1 Performance and Strategic Moves Justify Buy Rating

In a report released today, Eunice Lee from Bernstein maintained a Buy rating on Geely Automobile Holdings (GELYFResearch Report), with a price target of HK$21.00.

Confident Investing Starts Here:

Eunice Lee’s rating is based on Geely Automobile Holdings’ strong first-quarter performance and positive future outlook. The company reported significant revenue growth and an impressive increase in unit deliveries, driven by robust demand for its electric vehicles. The improvement in gross margin and operational efficiency further supports the positive assessment, as evidenced by reduced selling and administrative expenses as a percentage of revenue.
Additionally, Geely’s strategic move to privatize Zeekr is seen as a step towards addressing operational inefficiencies and enhancing resource integration in the competitive EV market. Despite some concerns over corporate governance, the company’s optimistic projections for Zeekr’s future deliveries, supported by strong demand for new models, contribute to the Buy rating. Overall, these factors combined with a stable market position justify Eunice Lee’s positive outlook on Geely’s stock.

According to TipRanks, Lee is a 5-star analyst with an average return of 20.6% and a 69.81% success rate. Lee covers the Consumer Cyclical sector, focusing on stocks such as Geely Automobile Holdings, BYD Co, and Nio.

In another report released today, DBS also maintained a Buy rating on the stock with a HK$23.00 price target.

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.

Report an Issue