0318 GMT - Geely Automobile, one of China's leading automakers, remains undervalued by investors but is Morningstar's top pick in China's auto sector, Morningstar analyst Vincent Sun writes in a note. The brokerage is positive on Geely given its new energy initiatives continue to show progress. Thanks to a strong model lineup from its two leading brands, Zeekr and Galaxy, the company will be able to further increase EV sales and solidify its position in China's EV industry, Sun says. Investors underestimate Geely's long-term earnings potential brought about by its various new energy brands, Morningstar says. The analyst sees value at the current share price and maintains a buy rating on the stock. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
March 03, 2025 22:18 ET (03:18 GMT)
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