CITIC Securities issued report49jiliAfter excluding exchange gains and losses in the first quarter, Fuyao Glass49jiliTotal profits increased by 44% year-on-year49jili.6% to 1749jili.83 billion yuan, better than market expectations, raised its target price from HK$48 to HK$54, maintaining its "Buy" rating.
The report mentioned that in the medium and long term, Fuyao Glass, as a leading company in the industry, will continue to benefit as the average selling price of automotive glass continues to increase. Therefore, it raised its 2024 - 2026 earnings per share forecast to 2.54 yuan, 2.93 yuan and 3.41 yuan.
