not vested
Daiwa Upgrades BRILLIANCE CHI to Hold, But Concerned about Shr-price Pressure from Major Shareholder's Divestment
BRILLIANCE CHI (01114.HK) 's share price nosedived 63% yesterday (5th), its first day of trading after being suspended for around one and a half years, reported Daiwa.
The broker believed that the share price of BRILLIANCE CHI has sufficiently priced in the negative factors and that the share price of the stock should not be trading far below the level of HKD4 net cash per share.
Related News: BOCI Downgrades BRILLIANCE CHI (01114.HK) to Sell; Valuation Likely Hard to Beat Peers
That said, Daiwa underlined that it has noted the share-price pressure constituted by the share-selling of one of the company's major fund shareholders.
Daiwa upgraded the rating for BRILLIANCE CHI from Sell to Hold, with its target price axed from $4.9 to $2.8.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... t-news/HK6
|
|
Brilliance China Automotive 1114
32 posts
• Page 4 of 4 • 1, 2, 3, 4
Re: Brilliance China Automotive 1114
by winston » Thu Oct 06, 2022 1:28 pm
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
-
winston - Billionaire Boss
- Posts: 118900
- Joined: Wed May 07, 2008 9:28 am
Re: Brilliance China Automotive 1114
by winston » Thu Oct 06, 2022 1:31 pm
not vested
BOCI Downgrades BRILLIANCE CHI (01114.HK) to Sell; Valuation Likely Hard to Beat Peers
Trading in the shares of BRILLIANCE CHI (01114.HK) has been resumed from yesterday (5th) after suspension for over 1.5 years as it fulfilled all resumption guidance, BOCI mentioned in its report.
The broker viewed that the stock is facing sell-off pressure post resumption, and thus downgraded the rating from Hold to Sell and axed the TP from $8 to $4.5.
Although BOCI admitted BRILLIANCE-BMW JV's fundamentals and competitiveness topped most other JVs in China, it considered the stock hard to trade at a premium to peers due to a couple of factors.
Firstly, the broker considered the BRILLIANCE-BMW JV's earnings and margin may have peaked in 2021 with downward pressure in next few years.
Related News: Daiwa Upgrades BRILLIANCE CHI to Hold, But Concerned about Shr-price Pressure from Major Shareholder's Divestment
Secondly, although a number of BEV models, such as the ix3 and i3, have been launched and localized in recent years, the market's feedback on these models has been muted.
Under the industry trend of electrification and vehicle intelligence, the market may be more worried about the BMW sales prospect in China.
Thirdly, the market was watchful of BRILLIANCE CHI's corporate governance level, which may hamper the confidence of many investors on the company's management and outlook.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... t-news/HK6
BOCI Downgrades BRILLIANCE CHI (01114.HK) to Sell; Valuation Likely Hard to Beat Peers
Trading in the shares of BRILLIANCE CHI (01114.HK) has been resumed from yesterday (5th) after suspension for over 1.5 years as it fulfilled all resumption guidance, BOCI mentioned in its report.
The broker viewed that the stock is facing sell-off pressure post resumption, and thus downgraded the rating from Hold to Sell and axed the TP from $8 to $4.5.
Although BOCI admitted BRILLIANCE-BMW JV's fundamentals and competitiveness topped most other JVs in China, it considered the stock hard to trade at a premium to peers due to a couple of factors.
Firstly, the broker considered the BRILLIANCE-BMW JV's earnings and margin may have peaked in 2021 with downward pressure in next few years.
Related News: Daiwa Upgrades BRILLIANCE CHI to Hold, But Concerned about Shr-price Pressure from Major Shareholder's Divestment
Secondly, although a number of BEV models, such as the ix3 and i3, have been launched and localized in recent years, the market's feedback on these models has been muted.
Under the industry trend of electrification and vehicle intelligence, the market may be more worried about the BMW sales prospect in China.
Thirdly, the market was watchful of BRILLIANCE CHI's corporate governance level, which may hamper the confidence of many investors on the company's management and outlook.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... t-news/HK6
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
-
winston - Billionaire Boss
- Posts: 118900
- Joined: Wed May 07, 2008 9:28 am
32 posts
• Page 4 of 4 • 1, 2, 3, 4
Who is online
Users browsing this forum: No registered users and 4 guests