CMB International: Raising GAC Group's (02238) target price to HK$4.3 to maintain “buy” rating

The Zhitong Finance App learned that CMB International released a research report saying that although GAC Group (02238) lost 1.3 billion yuan in the next quarter, falling short of expectations, it believes that the market will not pay attention to its profit and loss situation this year, because the new model launched by GAC in collaboration with Huawei next year may be more competitive and become a positive catalyst for the company. The bank also believes that the company's joint ventures and joint ventures have plenty of room to reduce employee costs. The bank maintained GAC Group's H share “buy” rating, and the target price for H shares was raised from HK$3.6 to HK$4.3.