The USA reiterates support for the RBOB Gasoline vehicle industry, bolstering NEXTEER's strong growth momentum.
Zhichun Finance APP learned that DBS has released a research report raising NEXTEER's (01316) Target Price by 12.5%, from 4 Hong Kong dollars to 4.5 Hong Kong dollars, maintaining a 'Buy' rating.
The bank noted that while NEXTEER primarily targets the North American market, it is rapidly expanding its market share in China's new energy vehicle sector; it also anticipates that the company's new business acquisition targets will be met this year. The acceleration of autonomous driving applications in the mainland; the USA's reaffirmation of support for the RBOB Gasoline vehicle industry all contribute to NEXTEER's strong growth momentum.
Based on improved business prospects, the bank raised its 2025 forecast PE from 10 times to 11 times, adjusted the company's Target Price upward, and expects the stock price may still further rise due to factors such as rapid expansion in the mainland, also maintaining an investment rating.