Today's Analyst Rating | Citigroup Price Target Raised to $80 by Piper Sandler, Truist Financial Price Target Raised to $51 by Piper Sandler

Moomoo News08:00 ET · Ratings

Citi: Assigned a 'buy' rating to Leapmotor with a target price of 45.1 Hong Kong dollars.

Citigroup released a research report stating a 'buy' rating on Leapmotor (09863) with a target price of 45.1 Hong Kong dollars. The management pointed out that the company has achieved this year's sales target of 0.25 million autos, with an estimated gross margin exceeding 5% for the full year. Next year's sales target is 0.5 million autos, with exports expected to account for about 10%. However, the gross margin forecasts vary for each model, with an overall gross margin target of 10%, and the expectation of turning a profit in the fourth quarter of next year, possibly earlier than expected. The company mentioned that the current backlog of orders is close to 0.04 million autos. The management also stated that there are no plans to actively reduce prices, but they will monitor the competitive situation to assess the need for price adjustments.

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