Bocom International: reiterated Great Wall buy rating target price of HK $40.2

2022-07-23 0 By

Bocom International issued a research note that reiterated Great Wall Motor (02333) “buy” rating, target price of HK $40.2, the group’s future rich model inventory and average selling price continues to rise, will help earnings growth.Great Wall’s January sales fell 19.6 percent from a year earlier and 31.1 percent from the previous month, with monthly sales weaker than expected, believed to be due to tight semiconductor supplies and the Lunar New Year holiday, the report said.Weak sales in January and February were a short-term pain, and sales are expected to improve in the second quarter on a recovery in supplies of key components.In addition, the introduction of new models is expected to spur sales growth this year.