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<Research>Jefferies Sees Positive Catalysts for BYD COMPANY (01211.HK), Raises TP to $105
Recommend 22 Positive 23 Negative 6 |
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Jefferies issued a research report believing that most negative factors have already been priced in, given BYD COMPANY (01211.HK)'s 40% share price correction from its peak. Looking ahead, the broker saw positive catalysts including Tech Day scheduled for late February or early March, along with the launch of a series of new models and technologies. Therefore, Jefferies upgraded BYD COMPANY's A-/ H-shares to Hold. Based on a projected 2026 PE ratio of 20x, the broker lifted its target price for BYD COMPANY's A-shares from RMB92 to RMB88, and raised its target price for BYD COMPANY's H-shares to $105. Jefferies predicted that BYD COMPANY may launch new models/ new technologies intensively in early March after the Lunar New Year (LNY), potentially helping it regain lost market share in China. It is expected that overseas sales will reach 1.5 million units this year, up 43% YoY. The export business should effectively offset the weak domestic market performance due to reduced subsidies and intensified competition. AASTOCKS Financial News Website: www.aastocks.com |
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