Most businesses are trending up

M N 21 Mar 2024 CMB International Global Markets | Equity Research | Company Update Geely Automobile (175 HK) Most businesses are trending up Target Price HK$14.00 Maintain BUY. We are of the view that Geely’s FY23 earnings quality was better (Previous TP HK$14.00) than FY21-22. We believe most of its businesses are poised to enjoy higher Up/Downside 58.6% profits in FY24E. Some investors may overlook Geely’s recent assets disposal Current Price HK$8.83 to ease its lingering D&A burden by leveraging its par ...