Macquarie: Upgrades GEELY AUTO (00175) rating to "outperform the market" with a target price raised to 18 Hong Kong dollars.

Macquarie released a research report stating that it has upgraded the rating of GEELY AUTO (00175) to "outperform the market", and has raised the earnings per share forecast for 2024 to 2026 by 8%, 16%, and 11% respectively, reflecting the performance of the third quarter, with the target price raised by 13% to 18 Hong Kong dollars. GEELY AUTO's merger plan is a significant step in integrating diversified brands and will clarify the roadmap for the development of electric vehicles.