Bank of America Securities: Downgrade Beijing Automobile (01958.HK) revenue and profit forecasts, target price reduced to 2 Hong Kong dollars, reiterate underperform rating.

According to the Wise Finance APP, Bank of America Securities released a research report stating that it has lowered its revenue forecast for Beijing Automotive (01958.HK) by 3% to 4% from 2019 to 2027, lowered its gross margin forecast by 0.5 to 1.1 percentage points, lowered its profit forecast by 12% to 27%, and lowered its target price from 2.1 Hong Kong dollars to 2 Hong Kong dollars, reiterating an underperform rating against the broader market.