VEA [OUTPERFORM +13.0%] - Car sales firmly on the rise - Update
  • 2019-05-09T21:04:38
  • Company Research
We upgrade our rating from MARKET PERFORM to OUTPERFORM following an 8% share price correction over the last three months while our target price remains unchanged. We trim 2019F NPAT-MI by 0.5% as lower motorbike sales projections and larger projected losses from core businesses are offset by better-than-expected Honda and Ford car sales.