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GREATWALL MOTOR target prices cut to $3.51 by GS
21 Nov 2019
(Infocast News) Goldman Sachs lowered its target prices to HK$3.51 from HK$3.62 on Great Wall Motor (02333), while reiterating its sell rating.

Goldman said Great Wall retailed 228.8k units of passenger vehicles between July and October, the company has disclosed cumulative wholesale volume of 301.2k units, implying a build-up across dealer inventories of 72.3k units in just four months.

"This is the brand’s highest pre-holiday stocking ever, and also one of the highest among the manufacturer peer group."

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