Geely Automobile Holdings Ltd

00175: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$74.00	Ypwzr	Scjrwvcv

We Raise Geely’s FVE to HKD 16.70 on More Optimistic Zeekr Outlook; Shares Still Overvalued

Ivan Su

Aug 19, 2021

No-moat Geely’s interim earnings missed our estimates, and we do not think it can deliver its volume target for the rest of the year. Shares of the firm look expensive, but we see long-term value creation potential through the launch of Zeekr, and we have raised our long-term forecasts and fair value estimate to HKD 16.70 from HKD 15.50.

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