SAIC Motor Co. was rated "buy" in new coverage by Goldman Sachs Group Inc. analysts Yipeng Yang and Rajeev Das, who said the company differentiates itself from its competitors in "scale and strategic transformation."
The analysts also rated BYD Co. "sell" in new coverage, saying that the stock's current valuation is "too rich." They also initiated coverage on Dongfeng Motor Group Co., FAW Car Co. and Geely Automobile Holdings Ltd. with "neutral" recommendations while rating the yuan-denominated shares of Chongqing Changan Automobile Co. "buy."
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