HSI1 23,919.50 0.00 --
HSCEI1 8,057.59 0.00 --
Back    Zoom +    Zoom - Block Traded
JPM: CN SOE Carmakers' 3Q Results Miss; Forecasts Cut Further, TPs Adjusted
2026-11-04 12:39:00
The 3Q results of CHANGAN AUTOMOBILE (000625.SZ), SAIC MOTOR (600104.SH), GAC GROUP (02238.HK) and BAIC MOTOR (01958.HK) fell short of market expectations, further reinforcing JPMorgan's cautious view on traditional SOE automakers. The broker further lowered its forecasts for 2026/27 and adjusted TP for multiple auto stocks.

JPMorgan adjusted TPs for multiple auto stocks as follows:

Stock|Rating|TP
CHANGAN AUTOMOBILE (000625.SZ)|Underweight|RMB4.5 -〉 RMB4
SAIC MOTOR (600104.SH)|Underweight|RMB8
GAC GROUP (02238.HK)|Overweight|HKD5 -〉 HKD3
BAIC MOTOR (01958.HK)|Neutral|HKD0.8 -〉 HKD0.7
~

AASTOCKS Financial News
Website: www.aastocks.com