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<Research>BofAS Lifts SINOTRUK (03808.HK) TP to $29, Reiterates Rating at Neutral
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A conference call was held with SINOTRUK (03808.HK), BofA Securities published a research report saying. Management stated that SINOTRUK's annual sales target of 300,000 units is progressing smoothly. The Company is on track to meet its sales and profit margin targets for 2025, and announced that it will maintain a prudent capital expenditure plan for 2025-2027 at no more than RMB2 billion per annum, focusing on the construction of overseas production bases (such as Kazakhstan, Brazil, Indonesia). Therefore, the broker lifted its target price from $24.3 to $29, and reiterated rating at Neutral, believing that the current share price reasonably reflected its growth prospects. However, BofA Securities remained optimistic about the Company's long-term export expansion business story and solid local market position. AASTOCKS Financial News Website: www.aastocks.com |
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