Daiwa: Guangzhou Automobile Group (02238) is currently undervalued with a "buy" rating and a target price of 3.9 Hong Kong dollars.

According to the CITIC Securities APP, Morgan Stanley released a research report stating that GAC Group (02238) has accumulated a 24% increase in the past week. The bank believes that this recent rise is mainly due to the following three recent positive factors: the management's latest statement that it will mass-produce vehicles equipped with solid-state batteries by 2026; a significant increase in information disclosure about the brand Qijing, which collaborates with Huawei; and the announcement of a marketing collaboration with JD-SW Group (09618). The bank has given a "buy" rating to GAC H shares with a target price of 3.9 Hong Kong dollars.