Tuhu Car's Australia Acquisition Sets Stage for Further Expansion
Dow Jones
2 hours ago
0355 GMT - Tuhu Car's 278 million Australian dollar acquisition of mycar Tyre & Auto is expected not only to boost earnings but also provide a testing ground for future overseas expansion, CMB International analysts say in a note. The deal would lift Tuhu's adjusted net profit by an estimated 10% and 15%, respectively, for the next two years, the note said. The brokerage maintains its buy rating on the Chinese car-maintenance and repair services platform and raises its target price to 19.0 Hong Kong dollars from HK$18.0. Shares closed 0.4% lower at HK$11.29.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.