Dongfeng Motor 489

Re: Dongfeng Motor 489

Postby winston » Mon Jun 27, 2011 7:34 am

Not vested

Mainland auto stocks may be volatile but offer good prospects as more Chinese can afford to buy.

Dongfeng (0489), for instance, hit HK$7.90 in October 2007, then dived 83 percent to HK$1.31 a year later.

Fast forward to April last year, when it soared to HK$14.36, then tumbled 46 percent to HK$7.67 in two months. Since then, it has gained 141 percent, hitting a historical high of HK$18.50 in October. During the next six months, it fell 35 percent to HK$11.9 and is now trading at HK$14.

Japan's earthquake had delayed the launch of new models. But Dongfeng expects sales to pick up late this year or next year. Nomura has set a target of HK$18 for this carmaker.

It currently trades at 9.4 times historical earnings. If it dips near HK$13.70, its 10 and 20-day moving average, it is worth a punt with a view to a 15 to 20 percent profit.

http://www.thestandard.com.hk/news_deta ... 10627&fc=1
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Re: Dongfeng Motor 489

Postby winston » Wed Oct 10, 2012 3:51 pm

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DJ MARKET TALK: Dongfeng Motor +5.3%; Valuations Attractive - DB

1448 [Dow Jones] Dongfeng Motor (0489.HK) rallies 5.3% to HK$9.60 on strong volume of HK$355.0 million, on hopes of easing tensions between China and Japan.

The stock had fallen to a 52-week low of HK$9.54 on Oct. 4, which would value it at only 5X FY13 consensus earnings.

Deutsche Bank lowers Dongfeng's target to HK$13.00 from HK$14.70, as it cuts its FY12-14 EPS forecasts for Dongfeng by 11% on weaker-than-expected commercial vehicle sales and lower Japanese brand sales, but it expects a rebound in FY13 earnings from the launch of the high-margin, new-generation Teana mid-size sedan.

"The stock looks attractive on both P/E and P/BV and we think relatively robust 3Q12 results could support the share price."

Guangzhou Auto (2238.HK), which also runs JVs with Japanese auto makers, also rebounds 4.1% to HK$5.05.


Source: Dow Jones & Company, Inc.
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Re: Dongfeng Motor 489

Postby winston » Fri Apr 22, 2016 8:05 am

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Dongfeng Motor (489 HK)

DFM’s 2015 net profit came in as expected at Rmb11.55b, down 9.7% yoy.

Stripping out exceptional items, core net profit would have grown 8.6% yoy to Rmb11.1b.

DFM’s earnings growth was driven by DF PSA’s net profit growth, a turnaround at 14%-owned PSA and the sales recovery at DF Nissan and DF Honda in 2H15.

Management targets to achieve 6% yoy sales growth in 2016 and the primary growth driver will be the new SUV models launched in 2H15 and 2016.

The stock is trading at an undemanding valuation of <6x 2016F PE, which is more than 1SD below its historical mean.

source: UOBKH
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Re: Dongfeng Motor 489

Postby winston » Mon May 30, 2016 1:08 pm

Dongfeng Leads China Auto Gain: Safe Risk-On Play, Says Credit Suisse

By Shuli Ren

China’s Dongfeng Motor (489.Hong Kong) rose for the 4th day, up 5.7% recently, the most in over 4 months, as risk sentiments towards China improve.

Other auto makers gained as well. Great Wall Motor (2333.Hong Kong) rose 3.9%, Brilliance China (1114.Hong Kong) gained 3.1%, Geely Auto (175.Hong Kong) advanced 2.5%.

China’s auto makers are so beaten down that they are “safe” bets as we leave the terrible “Sell in May” behind to a possible summer rally, noted Credit Suisse analyst Bin Wang this morning. He particularly likes Dongfeng Motor:

We regard Dongfeng as a good value stock on:
(1) a cheap valuation at 4.9x 2016E P/E, the cheapest in the China auto space; and
(2) a strong balance sheet with net cash accounting for 56% of market cap, if we consider the net cash in its JVs.

According to “Dongfeng Auto News” earlier this week, Dongfeng’s chairman declared that Dongfeng Group’s (parent co.) Jan-Apr 2016 profit rose 13% YoY.

As 489.HK accounts for 73% of Dongfeng Group’s YTD 2016 volume, we estimate 489.HK will report organic profit growth in 1H16—up 2% YoY to Rmb6.5 bn (considering 1H15′s Rmb485 mn FX gains).

Credit Suisse has a price target of 13.40 Hong Kong dollars. This stock is trading at HK$8.74 this morning. Dongfeng is down 20% this year despite recent gains.

Source: Barron's Asia
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Re: Dongfeng Motor 489

Postby winston » Mon May 30, 2016 1:11 pm

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May 25, 2016

<Research Report>BofAML Cuts DONGFENG GROUP (00489.HK) Target to $9.91; Rated Buy

Bank of America Merrill Lynch said that the re-rating condition is mature for automobile industry.

DONGFENG GROUP (00489.HK) May sales growth is expected to be 9.3%.

The research house believes that the negative news for the sales decline of DF PSA have been factored in.

The stock is now trading at 4.7x P/E, lower than historical average of approximately 46%.

It is believed that the stock has been oversold.

The company was rated at Buy, yet the target price was revised down to $11.6 from $9.91.

Source: AAStocks Financial News
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