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TodayIR: Merrill Lynch Lifts PO of MeiDong Auto (1268.HK) as Luxury Margins Drive 2H20 Beat; Maintain Buy at HKUSD42.00


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DJ EQS-News: Merrill Lynch Lifts PO of MeiDong Auto (1268.HK) as Luxury Margins Drive 2H20 Beat; Maintain Buy at HKUSD42.00 EQS-News / 12/04/2021 / 11:46 UTC+8 Merrill Lynch Lifts PO of MeiDong Auto (1268.HK) as Luxury Margins Drive 2H20 Beat; Maintain Buy at HKUSD42.00
Merrill Lynch (BofA) further lifts its price objective for China MeiDong Auto Holdings Limited (1268.HK) to HKUSD42.00 at Buy, as luxury margins led to 2H20 outperformance. The latest price objective represents an upside of 11.9% from the closing price of HKUSD37.55 on 7th April.
On 2H20 results, BofA acknowledges MeiDong s net income was 6% ahead of its estimates, up 43% YoY to RMB450mn, despite a deeper than expected non-cash FX loss of RMB95mn. Car sales rose 25% YoY, while strong post-COVID demand helped lift 2H gross margin to 10.3% (+1.1ppts YoY) driven by the luxury car segment, plus growth in high margin after-sales service (+29% YoY). ....

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Covid 19 coronavirus: AstraZeneca vaccine and blood clots - what is known so far


Covid 19 coronavirus: AstraZeneca vaccine and blood clots - what is known so far
12 Apr, 2021 01:23 AM
8 minutes to read
A health worker holds a vial of AstraZeneca vaccine to be administered against Covid-19. Photo / AP
A health worker holds a vial of AstraZeneca vaccine to be administered against Covid-19. Photo / AP
New York Times
By: Benjamin Mueller and Denise Grady
In rare cases, an immune reaction has led to antibodies that caused a serious clotting disorder. But public health experts maintain the vaccine s benefits far outweigh the risks for most people.
The AstraZeneca-Oxford vaccine has
been deployed against Covid-19 in at least 115 countries, some of them for several months now. But it was not until a few cases of a rare blood-clotting disorder some fatal emerged within the past month or so that many European nations began to rethink its use across all age groups. ....

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South-East Governors set up joint security outfit, EBUBE-AGU, ban open grazing


Views: 377
Governors of the South-East states have resolved to maintain a joint security outfit for the code named Ebube Agu (Wonderful Tiger).
The governors made the resolution in a communique during the first South-east security summit held in Owerri on Sunday.
The communique was presented by Chief Dave Umahi, Chairman of the South East Governors’ Conference and Ebonyi governor,
The governors’ conference said the joint security outfit would have its headquarters in Enugu to coordinate the vigilance groups in the zone.
They also resolved to set up a committee comprising security personnel, government officials and other relevant stakeholders to coordinate and monitor the implementation of the joint security platform. ....

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