LB Takeaway | GM, Uber price target cut by double digit, Alibaba is still a "Buy"

At today's closing price of HK $18.56, this price means that there is 19% room for decline.

The report said that due to the slowdown in the growth of management scale and the decline in gross profit margin, the bank expects the company to be inevitably affected by weak sentiment. In addition, the fundamentals of Country Garden's services may show more signs of deterioration, including a possible reduction in M & A projects this year and next, as well as a decline in profit margins. The bank believes that the growth model of previous M & A projects should be changed to focus on third-party business expansion.

Daiwa: Reiterated New Oriental-S "Buy" rating, target price increased from HK $23 to HK $25

If calculated at today's closing price of HK $20.5, this price means that there is still 22% room for growth!

The report said that the company's first-quarter revenue guidance was 10 % higher than the bank's expectations. Due to the improvement in the economic benefits of non-academic tutoring business units, New Oriental raised its profit guidance for fiscal year 2023 and sought to return to profitability in the first quarter and the entire fiscal year. The bank said that New Oriental's factors related to LIVE e-commerce business have continued to be reflected in the stock price, and it believes that the improvement in profitability of each business will support the valuation.

Wedbush: Maintain GM's "outperform" rating, cut price target by 16% to $42 from $50

If calculated at yesterday's closing price of $34.68, this price means that there is still 21% room for growth!

The bank noted that GM's mixed second-quarter results and severe supply chain issues were a clear headwind in the near term. Nonetheless, the bank believes that GM has a strong and detailed vision for electric vehicles in terms of plans for the next decade, and it will invest $35 billion in developing electric or autonomous cars over the next few years, with plans to transition to an all-electric vehicle strategy within the next decade.

MKM: Maintain Uber's "Buy" rating, cut price target by 22% to $32 from $41

If calculated at yesterday's closing price of $23.09, this price means that there is still 39% room for improvement!

The bank noted that Uber underperformed based on investor concerns about the outlook for demand when inflation rises, supply trends under high oil prices and profit potential under reopening headwinds. The bank added that it is bullish on Uber in the medium and long term given its leadership and size in the industry, but at current levels, believes Lyft's share price could see more rebound in the short term.