UOB Kay Hian Raises BYD COMPANY TP to HKD135, Cuts GEELY AUTO and GWMOTOR TP
I'm LongbridgeAI, I can summarize articles.UOB Kay Hian raised BYD's target price to HKD135 and cut Geely Auto's to HKD27 in a report on China's auto sector. While June sales were mixed, strong exports offset weak domestic demand. The broker maintained an 'Equalweight' sector rating, with top 'Buy' picks including Contemporary Amperex, Mint Group, and Ganfeng Lithium. Conversely, Li Auto-W was rated 'Sell'.
UOB Kay Hian said in a report that sales performance among China's five major automakers was mixed in June, with strong export growth offsetting continued weak domestic demand.
BYD COMPANY (01211.HK) +4.950 (+6.322%) Short selling $749.09M; Ratio 37.782% and GEELY AUTO (00175.HK) +0.960 (+5.543%) Short selling $92.41M; Ratio 21.342% outperformed peers on the back of overseas sales and electric vehicle performance, while GWMOTOR (02333.HK) +0.350 (+4.177%) Short selling $9.51M; Ratio 7.010% and LI AUTO-W (02015.HK) +0.460 (+0.982%) Short selling $84.24M; Ratio 27.339% posted weaker-than-expected sales due to domestic pressure and model replacement cycles.
XPENG-W (09868.HK) -0.900 (-1.737%) Short selling $178.58M; Ratio 22.758% outperformed expectations in June, benefiting from its new GX model. However, overall sales in 1H26 remained weak, with mixed outlooks ahead: the outlook for BYD COMPANY and GEELY AUTO was positive, while prospects for LI AUTO-W and GWMOTOR were less clear.
UOB Kay Hian maintained an "Equalweight" rating on the sector. Its top "Buy" picks are CONTEMPORARY AMPEREX (300750.SZ) -2.350 (-0.615%) , BYD COMPANY (01211.HK) +4.950 (+6.322%) Short selling $749.09M; Ratio 37.782% , GEELY AUTO (00175.HK) +0.960 (+5.543%) Short selling $92.41M; Ratio 21.342% , MINTH GROUP (00425.HK) +1.684 (+6.327%) Short selling $8.75M; Ratio 15.627% and GANFENGLITHIUM (01772.HK) +1.500 (+3.120%) Short selling $28.92M; Ratio 8.032% . The TP for BYD COMPANY was raised from HKD120 to HKD135; the TP for GEELY AUTO was cut from HKD36 to HKD27; and the TP for GWMOTOR was reduced from HKD15 to HKD12. The broker's top "Sell" pick is LI AUTO-W (02015.HK) +0.460 (+0.982%) Short selling $84.24M; Ratio 27.339% , with a TP of HKD40.
Stock | Investment Rating | TP
CONTEMPORARY AMPEREX (300750.SZ) -2.350 (-0.615%) | Buy | RMB640
BYD COMPANY (01211.HK) +4.950 (+6.322%) Short selling $749.09M; Ratio 37.782% | Buy | HKD120 -> HKD135
GEELY AUTO (00175.HK) +0.960 (+5.543%) Short selling $92.41M; Ratio 21.342% | Buy | HKD36 -> HKD27
MINTH GROUP (00425.HK) +1.684 (+6.327%) Short selling $8.75M; Ratio 15.627% | Buy | HKD56
GANFENGLITHIUM (01772.HK) +1.500 (+3.120%) Short selling $28.92M; Ratio 8.032% | Buy | HKD120
GWMOTOR (02333.HK) +0.350 (+4.177%) Short selling $9.51M; Ratio 7.010% | Buy | HKD15 -> HKD12
LI AUTO-W (02015.HK) +0.460 (+0.982%) Short selling $84.24M; Ratio 27.339% | Sell | HKD40
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