BOC International released a research report stating that maintaining the Ideal Automobile-W (02015.HK) “buy” rating, the target price will be lowered to HK$120.34 based on revenue and profit adjustments based on 1.5 times the 2024 market sales rate. Since this year, the ideal stock price has been reduced by more than 50%, which the bank believes is sufficient to offset some of the negative effects of fundamentals. Ideal's current market sales rate in 2024 is 1 times (1.1-1.3 times the same rate), while Ideal delivered an average of about 30,000 units per month in the 2nd quarter, 98.9 billion yuan in cash, and a gross margin of ~ 20%, all of which are still superior to peers. The bank believes investors may begin to reconsider the possibility of more positive signals (such as improving orders on a monthly basis) in the coming months.
交银国际：维持理想汽车-W(02015.HK)“买入”评级 目标价降至120.34港元
BOC International: Maintaining Ideal Automobile-W (02015.HK) “Buy” Rating Target Price Reduced to HK$120.34
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