Core Viewpoint - The report from BOC International predicts that the operational performance of Tenneco in the second half of last year will be stable, supported by increased demand in North America and Europe, exchange rate factors, and stability in the Chinese market [1] Group 1: Financial Performance - Revenue is expected to grow by 7% year-on-year, reaching $2.3 billion, marking a new semi-annual high [1] - Net profit is projected to exceed $70 million, continuing the profit recovery trend since 2024 [1] Group 2: Operational Developments - The optimization and restructuring of Tenneco's North American facilities have shown initial results [1] - The new national standard for automotive steering systems will be implemented in July, removing mandatory mechanical connection requirements, which is expected to clear key regulatory obstacles [1] Group 3: Future Projections - The net profit forecasts for Tenneco for 2025 and 2026 have been raised by 7% to 10%, now estimated at $137 million and $160 million respectively [1] - The rating has been upgraded to "Buy," with the target price increased to HKD 9 [1]
大行评级｜中银国际：上调耐世特目标价至9港元 上调2025至26年净利润预测