UBS: Raise Geely Automobile's (00175.HK) target price to 20 Hong Kong dollars, indicating that the valuation is now considered fair.

According to the Securities Times APP, UBS released a research report stating that Geely Auto (00175.HK) is currently valued at a reasonable level (with a forecasted P/E ratio of 11.4 times next year), with a target price raised from 15 Hong Kong dollars to 20 Hong Kong dollars, while also increasing sales volume forecasts for 2025 to 2027 by 13% to 18% to 3.1 million to 3.4 million vehicles. The market generally holds an optimistic attitude towards Geely Auto, as the group achieved a 47% year-on-year sales growth in the first half of the year despite a large base, coupled with product cycle updates.