＜Research＞BofAS Lifts GWMOTOR (02333.HK) TP to $13.8 as 1Q24 Earnings Beat

　　GWMOTOR (02333.HK) +1.300 (+11.586%) Short selling $70.33M; Ratio 24.161% 's 1Q24 earnings beat estimations, and raising its 2024 to 2026 sales forecasts by 5%/ 6%/ 7% each, BofA Securities issued a research report saying.

　　BofA Securities also increased its gross profit margin forecasts to reflect an improved product mix. For net profit, BofA Securities added its 2024 to 2026 net profit forecasts by 22%/ 16%/ 17%, respectively.

　　Related NewsGWMOTOR 1Q NP RMB3.228B

　　BofA Securities lifted its target price on GWMOTOR's H-shares from $12.3 to $13.8, and reiterated rating at Buy as it expected its strong earnings growth to be supported by factors such as increased contribution from overseas sales, better economies of scale and improved product mix.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-04-24 16:25.)

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