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C Suisse's Latest Ratings & Targets for China Auto Shares (Table)

Credit Suisse, in a report, updated the latest ratings and target prices for China auto shares as below:

Stock / Investment Rating / Target Price (HK$)
GEELY AUTO (00175.HK) / Outperform / 5.1->5.3
GREATWALL MOTOR (02333.HK) / Neutral->Outperform / 37->38
BYD COMPANY (01211.HK) / Outperform / 75->77
DONGFENG GROUP (00489.HK) / Neutral->Outperform / 14.8->15
GAC GROUP (02238.HK) / Outperform / 8.8->9
BRILLIANCE CHI (01114.HK) / Outperform / 13.6->13.8
BAIC MOTOR (01958.HK) / Underperform->Neutral / 5->6

Source: AAStocks Financial News

Auto Stocks Shine on Purchase Tax Cut; Dongfeng Group, Geely Auto, Greatwall Motor Up 14%-19%

The State Council unveiled measures to support the development of new energy cars and small-engine autos. announced a 50% cut in the PV purchase tax for vehicles with engine sizes equal to or smaller than 1.6L.

Auto stocks broadly fared well. In particular, GREATWALL MOTOR (02333.HK) breached above the 50-day MA and last stood at $8.39, with a surge of 19%. The stock's rating was upgraded by Credit Suisse.

GEELY AUTO (00175.HK) was upgraded to Overweight by Morgan Stanley and its share price rose above the 250-day MA and the 100-day MA. The stock last traded at $3.64, up 15%.

DONGFENG GROUP (00489.HK) once peaked at $9.8 and last printed at $9.54, up 14%.

GAC GROUP (02238.HK) surged above the 50-day MA and last recorded at $6.21, up 7.6%.

BYD COMPANY (01211.HK) once leaped above the 250-day MA ($40.42) and last mounted 4.6% to $40.

BRILLIANCE CHI (01114.HK) recouped the 20-day MA and last leaped 7.5% to $9.34.

BAOXIN AUTO (01293.HK), engaged in auto sales and services, soared 5.7% to $3.34.

HARMONY AUTO (03836.HK), ZHONGSHENG HLDG (00881.HK) and DCH HOLDINGS (01828.HK) climbed 3%-3.7% to $3.34, $3.08 and $3.06 respectively.

In addition, auto parts maker NEXTEER (01316.HK) once tested the 10-day MA and rose to $8.05. The stock last stood at $7.74, with a gain of nearly 4%.

Source: AAStocks Financial News

Chinese Automakers Surge After Government Cuts Purchase Tax
http://www.bloomberg.com/news/articles/ ... eries-slow

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