Credit Suisse Gives Geely Auto A Price Target of HK$4

Credit Suisse initiated their coverage of Geely Auto with an Outperform rating and a price target of HK$4.

They based their rating on the transformation to multi-brand strategy which is showing sings of success and makes Geely Auto more competitive auto maker.

Credit Suisse expects exports to rise which will be beneficial for the company and think that Geely Auto's exports will account for 13% of sales in 2010 and 17% of sales in 2012.