Goldman Sachs analyst Tina Hou initiated coverage of Guangzhou Automobile H-shares with a Neutral rating and HK$4.80 price target, while starting the A-shares with a Sell rating and Rmb8.70 target. GAC has its volume and profit generation heavily exposed to the traditional ICE business as one of the largest SOE auto makers in China, but the firm expects GAC to continue gaining momentum with its NEV brand Aion, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>