BofAS Adds GEELY AUTO TP to $29.3, Lifts Earnings Forecasts

AASTOCKS News
2026.05.04 09:53
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BofA Securities has raised its target price for GEELY AUTOfrom $28.4 to $29.3 and maintained a Buy rating. The company's 1Q26 revenue reached RMB83.8 billion, a 15% year-on-year increase, with sales volume at 709,000 units, up 1% YoY. The average selling price rose 18% YoY to RMB112,000, and gross margin improved to 17.5%. Management anticipates further gross margin improvement in 2Q26 due to effective cost control measures.