Brilliance China Automotive 1114

Re: Brilliance China Automotive 1114

Postby winston » Mon Oct 15, 2018 3:37 pm

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<Research Report>CICC Lowers BRILLIANCE CHI TP to $9.5, Kept Neutral

CICC issued a research report covering BRILLIANCE CHI (01114.HK), pursuant to which competition amongst luxury automobile brands has become more fierce in China.

CICC trimmed its 2018/19 profit forecast for BRILLIANCE CHI by 8.3%/8% to RMB5.8 billion and RMB6.3 billion respectively.

BRILLIANCE CHI is kept at Neutral with target price cut by 17.4% to $9.5.

Source: AAStocks Financial News
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Re: Brilliance China Automotive 1114

Postby winston » Thu Oct 18, 2018 9:53 am

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Oct 16, 2018

<Research Report>JPM Lowers BRILLIANCE CHI (01114.HK) TP to $10.5, Kept Overweight

BRILLIANCE CHI (01114.HK)'s share price tumbled 32% in last two days after the company announced a disposal of 25% stake in Brilliance-BMW JV (BBA) at EUR3.6 billion, JP Morgan said.

JP Morgan believed that the share trend will be propelled by operation factors, including monthly sales and BMW's 3Q results to be announced on 7 November.

BMW 3 series new model to be launched in 2Q19 will be an important catalyst.

The target price of BRILLIANCE CHI was trimmed to $10.5 from $17 with rating kept Overweight.

Source: AAStocks Financial News
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Re: Brilliance China Automotive 1114

Postby winston » Fri Oct 26, 2018 11:51 am

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Oct 25, 2018

<Research Report>UBS Trims BRILLIANCE CHI (01114.HK) TP to $10; Rated Buy

Investors held a negative view on BRILLIANCE CHI (01114.HK)'s disposal of 25% stake in its BBA JV, opined UBS.

Upon completion of the transaction, BRILLIANCE CHI will have diminishing bargaining power with BMW.

UBS kept BRILLIANCE CHI at Buy, with a price target down from $21 to $10.

BRILLIANCE CHI'S 2018-2020 net earnings forecasts were RMB6.845 billion/ RMB8.733 billion/ RMB9.118 billion, while its 2018-2020 EPS forecasts were RMB1.36/ RMB1.73/ RMB1.81, respectively.

Source: AAStocks Financial News
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Re: Brilliance China Automotive 1114

Postby winston » Fri Oct 26, 2018 11:53 am

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Oct 24, 2018

<Research Report>BofAML Trims BRILLIANCE CHI (01114.HK) Target to $10.7; Reiterated Buy

Bank of America Merrill Lynch's report pointed out that it remained optimistic on BRILLIANCE CHI (01114.HK) with earnings estimates unchanged since it had announced to dispose of 25% shareholdings in BMW Brilliance.

The broker reiterated Buy on BRILLIANCE CHI at the target price $10.7, trimmed from $13.7.

Source: AAStocks Financial News
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Re: Brilliance China Automotive 1114

Postby winston » Fri Oct 26, 2018 11:53 am

vested

Oct 24, 2018

<Research Report>BofAML Trims BRILLIANCE CHI (01114.HK) Target to $10.7; Reiterated Buy

Bank of America Merrill Lynch's report pointed out that it remained optimistic on BRILLIANCE CHI (01114.HK) with earnings estimates unchanged since it had announced to dispose of 25% shareholdings in BMW Brilliance.

The broker reiterated Buy on BRILLIANCE CHI at the target price $10.7, trimmed from $13.7.

Source: AAStocks Financial News
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Re: Brilliance China Automotive 1114

Postby winston » Thu Nov 01, 2018 2:10 pm

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GIC bought 8.57 shares @ HK$6.46 on Oct 26, raising it's stake to 5.08%.

Source: Yahoo Finance
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Re: Brilliance China Automotive 1114

Postby winston » Thu Nov 08, 2018 2:49 pm

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<Research Report>JPM Cuts BRILLIANCE CHI (01114.HK) Profit Forecast with TP Down to $9.5

According to BMW's 3Q18 results, the earnings of its BBA joint venture with BRILLIANCE CHI (01114.HK) was about 15% shy of estimate.

Higher expenses or costs, including subsidies to dealers, were attributary to such results.

The broker also retained a cautious view on the 2019 auto sector outlook.

BRILLIANCE CHI's price stumbled as its sold 25% JV stake to BMW. However, BRILLIANCE CHI was rated Overweight, given its fair valuation and a potential special dividend distribution in 2022.

The broker lowered BRILLIANCE CHI's 2018-2019 earnings forecasts, hence cutting its price target from $10.5 to $9.5.

Source: AAStocks Financial News
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Re: Brilliance China Automotive 1114

Postby winston » Fri Nov 09, 2018 1:44 pm

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<Research Report>Macquarie Trims BRILLIANCE CHI Target to $9.6, Retained Outperform

Macquarie's research report had it that the JV with BRILLIANCE CHI (01114.HK)'s 3Q18 net profit declined 24% yearly to EUR127 million, 43% shy of its estimates.

However, market is unlikely to be very sensitive to this, as the BBA JV valuation before 2022 is mainly based on the consideration to be paid by BMW for 25% equity stakes in the venture.

The broker rated Outperform on BRILLIANCE CHI at the target price HKD9.6, trimmed from HKD11.9.

Source: AAStocks Financial News
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Re: Brilliance China Automotive 1114

Postby winston » Mon Nov 12, 2018 11:45 am

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<Research Report>Daiwa Upgrades BRILLIANCE CHI (01114.HK) to Hold with Target Cut to $7

Daiwa's research report had it that BMW Brilliance, the JV of BRILLIANCE CHI (01114.HK) and BMW, delivered 24% decline in profit to EUR127 million, missing its estimate.

The target price on BRILLIANCE CHI was lowered to HKD7 from HKD9, as 2018-20 EPS estimates were lowered by 10-12%, but its rating was upgraded to Hold from Sell as the current stock price should have reflected the negatives.

Source: AAStocks Financial News
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Re: Brilliance China Automotive 1114

Postby winston » Thu Jan 10, 2019 3:40 pm

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<Research Report>Citi Upgrades BRILLIANCE CHI (01114.HK) to Buy, TP Raised to $7.2

Citigroup upgraded BRILLIANCE CHI (01114.HK) from Sell to Buy with target up from $5.7 to $7.2, given China's potential auto stimulus policy.

The automaker's 2018-20 EPS forecasts were raised by 3%/ 2%/ 2% to RMB1.16/ RMB1.29/ RMB1.45.

The broker also projected BRILLIANCE CHI's EPS CAGR to be 7.4% for 2019-21E and 8.7% for 2023-25E.

Source: AAStocks Financial News
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