Bank of America: Maintaining Zero Sports Auto (09863)'s “Buy” Rating Target Price of HK$90

The Zhitong Finance App learned that Bank of America released a research report stating that it maintains its “buy” rating for Zero Sports (09863), based on stronger sales growth and overseas expansion, and benefiting from a strong model cycle and cooperation with Stellantis, Bank of America's target price for Zero Run is HK$90. According to the bank, the company announced on Monday (29th) that it has conditionally agreed to issue 74.8 million shares to the FAW Group at a price of RMB 50.03 per share. Furthermore, the company released the first multi-purpose passenger vehicle (MPV) D99 on Sunday (28th), which will be officially launched next year. The target is the high-end MPV market, which will compete with Ideal Automobile-W (02015) MEGA and Tensei D9.