piggybankmegawaysslot| Citigroup: Maintain ideal car-W "Buy" rating target price lowered to HK$113.8

Citigroup released a research report saying that it maintains the "Buy" rating of Ideal Car-W (02015), with a target price of 167piggybankmegawaysslot.6 HKD lowered to 113piggybankmegawaysslot.8 Hong Kong dollars.

According to the report, the update has an impact on the ideal carpiggybankmegawaysslotThe assessment of the company lowered its net profit forecast for the three-year period from 2024 to 2026 by 38% to 51% to RMB 6.7 billion, RMB 7.7 billion and RMB 12.1 billion respectively. It is believed that the market headwinds will continue until next year, but the companypiggybankmegawaysslotCompared with other competitors newly entering the new energy vehicle market, our customer penetration rate, cash flow and cash situation are better positioned under the new pure electric vehicle product cycle.

The bank said it would lower its annual sales forecast for Ideal Cars from this year to 2026 from 570,000, 690,000 and 760,000 to 480,000, 560,000 and 645,000 respectively, because industry news said that orders fell significantly after May Day Golden Week and the postponement of the launch of pure electric vehicles are expected to affect sales performance in the second half of the year.