One Shanghai Dongzheng Automotive Finance Co., Ltd. (HKG:2718) Broker Just Cut Their Revenue Forecasts By 22%
The analyst covering Shanghai Dongzheng Automotive Finance Co., Ltd. (HKG:2718) delivered a dose of negativity to shareholders today, by making a substantial revision to their statutory forecasts for this year. Revenue estimates were cut sharply as the analyst signalled a weaker outlook – perhaps a sign that investors should temper their expectations as well.
After this downgrade, Shanghai Dongzheng Automotive Finance’s one analyst is now forecasting revenues of CN¥770m in 2020. This would be a huge 30% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analyst was forecasting revenues of CN¥993m in 2020. The consensus view seems to have become more pessimistic on Shanghai Dongzheng Automotive Finance, noting the sizeable cut to revenue estimates in this update.
The consensus price target fell 64%