0347 GMT - Dongfeng Motor is forecast to report break-even profit for 2024, compared with its 4.0 billion yuan net loss for 2023, Deutsche Bank analyst Bin Wang says in a research note. Wholesale volumes for the company's Voyah brand reached an all-time high in December on strong demand for the Voyah Dreamer MPV, while retail volumes were also strong, Wang says. Deutsche Bank raises its 2024 operating margin assumption to negative 1.5% from negative 2.0% after taking into account the Voyah brand's strength. The bank maintains a buy rating on Dongfeng with a target of HK$4.00. Shares are 1.9% higher at HK$3.17. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
January 14, 2025 22:47 ET (03:47 GMT)
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