Citi: Maintains "Buy" rating on NEXTEER (01316), target price raised to HK$4.5.

DBS released a research report, raising the target price of NEXTEER (01316) by 12.5%, from 4 HK dollars to 4.5 HK dollars, and maintaining a "buy" rating. The bank pointed out that although NEXTEER's main market is in North America, it is rapidly expanding its market share in the automotive market in Shanxi Guoxin Energy Corporation in China; it is also expected that the company will achieve its target numbers for new business this year. With the accelerated application of self-driving technology in mainland China and the US reiterating support for the gasoline vehicle industry, all factors support NEXTEER's strong growth momentum. Based on the improved business outlook, the bank has raised the forecasted price-to-earnings ratio for 2025 from 10 times to 11 times, and raised the company's target price. It is expected that the stock price may further rise, and the investment rating is maintained due to factors such as rapid expansion in mainland China.