Citigroup: Gives favorable rating to Geely Automobile (00175.HK), with a target price of HK$30.

According to the app of Wise Finance, Citi released a research report stating that it gives Geely Automobile (00175.HK) a "buy" rating with a target price of 30 Hong Kong dollars. It believes that the launch of new car models will drive a moderate increase in depreciation and amortization expenses in the second quarter, and the annual depreciation expense is expected to be 5 billion yuan, approximately 1.3 billion yuan per quarter.