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<Research>Citi: Zeekr Listing Can Boost GEELY AUTO (00175.HK)'s Future Valuation
Recommend 41 Positive 87 Negative 28 |
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The listing of Zeekr may boost the valuation of GEELY AUTO (00175.HK), Citi Research issued a research report saying. Investors may assign GEELY AUTO a potentially higher SOTP valuation, based on its stake in Zeekr, Citi Research added. After the IPO, GEELY AUTO will still hold at least a 50% stake in Zeekr. If Zeekr is valued at around 0.5x-1x FY2024 PS ratio, and investors increase the use of the SOTP approach to measure GEELY AUTO's value, the above factors imply that GEELY AUTO's market value will have an upside room of 18-36%. Summarizing the above factors, Citi Research rated GEELY AUTO at Buy, with a target price of $13. AAStocks Financial News |
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