0438 GMT - Geely Automobile will likely report strong earnings next year, thanks to higher sales volume and an accelerating product cycle, HSBC Global Research analysts write in a note. The company is on track to exceed its annual target this year of 2 million units given thw 1.72 million units sold in the first ten months of the year, they add. The strong performance of Geely's newly launched models have supported that growth, they say. The Chinese automaker aims to maintain this sales momentum in 2025, targeting a 22% rise to 2.6 million units, driven by an accelerating product cycle. HSBC Global Research maintains a buy rating on the stock and raises the target price to HK$19.30 from HK$10.90. Shares last at HK$13.56.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
November 20, 2024 23:38 ET (04:38 GMT)
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