Automotive Nov 20, 2020 07:28 PM (GMT+8) · EqualOcean
BofA securities raised Dongfeng Group's target price from HK $8.1 to HK $9.6, reiterating its "buy" rating. Bank of America pointed out that Dongfeng Group disclosed its annual revenue and profit forecast earlier, and predicted that the annual revenue would rise by 0.3% to 5.5% year-on-year, to be between RMB 105 billion and RMB 110 billion, and the annual net profit decreased by 14% to 21% to RMB 10.2 billion to RMB 11.0 billion. Bank of America Securities believes that this means that the company's fourth quarter net profit will be between 2.4 billion yuan and 3.2 billion yuan, equivalent to a year-on-year increase of 1.59 times to 2.44 times.

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