HK-listed auto parts supplier Nexteer climbs, target price raised

Nexteer Automotive

10/08/2018 07:47

** Shares of Hong Kong-listed Nexteer Automotive Group Ltd
 1316.HK , a steering and driveline systems manufacturer, surge
8.7 pct to HK$12.24, reaching its highest since June 19
    ** Stock is set for its best day since August 2016
    ** Credit Suisse believes Nexteer Automotive will benefit
from the boom in car equipment upgrades and raised its target
price to HK$14.3 from HK$10.3. It also upgraded its rating to
"outperform"
    ** The Michigan-headquartered company will release its
first-half results on Aug. 14
    ** As of the previous close, the stock had fallen 39.53
percent so far this year
    ** Among the 17 analysts that cover Nexteer Automotive Group
Ltd, the current average rating on the shares is "buy"; the
breakdown of recommendations is 13 "strong buy" or "buy", three
"hold" and one "sell" or "strong sell". The analyst mean price
target is HK$15.43 
    ** Hong Kong's benchmark index  .HSI  is up 0.81 pct

 ((Reuters Messaging: Cheng.Li.thomsonreuters.com@reuters.net))