Stock Track | Geely Auto Soars 5.03% Intraday on Strong Overseas Exports and Positive Analyst Ratings

Stock Track
Jul 06

Geely Auto's stock surged 5.03% during Monday's intraday session, reflecting strong investor optimism following the release of positive sales data and supportive analyst commentary.

The company recently disclosed June sales figures showing overseas exports reached 102,874 units, surging 157% year-over-year and crossing the 100,000-unit threshold for the first time. This robust performance in international markets has been highlighted as a key growth driver, with European data indicating Chinese passenger vehicle market share surpassed Japan's in May, with Geely among the leading contributors.

Multiple financial institutions have maintained positive outlooks on the stock. CLSA and CICC maintained their Outperform ratings with target prices of HKD 30, citing overseas high premiums as reinforcing earnings upside. Daiwa recently upgraded the stock to Buy with a target price of HKD 27, raising revenue and net profit forecasts for the coming years. Additionally, UOB Kay Hian included Geely as a top "Buy" recommendation, noting the company outperformed peers in June supported by overseas sales and strong electric vehicle performance.

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