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Deutsche Bank Brilliance (01114)
Rating: Buy -> Buy
Target Price: 23.4 yuan -> 23.4 yuan (95% potential increase over the previous closing price of 11.98 yuan)
Posted It is said that BMW (BMW) of Germany will increase its stake in Brilliance BMW, a joint venture of Brilliance, which triggered a 12% drop in price of the action. Deutsche Bank released a report that market concerns about Brilliance were overestimated and maintained a "buy" with a 12 month target of $ 23.4.
The report notes that BMW Brilliance contributed significantly to Brilliance's earnings, with a book value of RMB 43.2 billion in 2017 and a return on equity of 26.7%, which suggests that Brilliance will not sell not at a low price and will value the future of shareholders. Or you can benefit from sending a special interest.
Deutsche Bank also stated that Brilliance had been depreciated by 43% this year, mainly because of declining share ownership and lower import tariffs, but believes that the price of Bourse has overrepresented the above factors.
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