0723 GMT - Geely Automobile's move to privatize Zeekr is positive, Deutsche Bank analyst Bin Wang writes in a note. Geely believes taking full equity control over Zeekr is strategically significant as Zeekr is a global premium EV brand targeting the high-end market, Wang says. The privatization proposal is estimated to boost Geely's 2026 EPS by 0.6%-8.5%, considering Zeekr Group's inexpensive valuation, he adds. Wang says his forecast for the carmaker's 2026 net profit could rise by 8.5% to 1.6 billion yuan, assuming that all of Zeekr Group's ADS holders elect to receive cash. The bank maintains a buy rating on Geely with a target price of HK$21.00. Shares are last at HK$17.40. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
May 08, 2025 03:23 ET (07:23 GMT)
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