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<Research>DBS Lifts BYD COMPANY (01211.HK) TP to $492, Rating Buy
Recommend 15 Positive 20 Negative 6 |
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DBS released a research report stating that BYD COMPANY (01211.HK) achieved revenue of RMB777 billion and a profit of RMB40 billion in 2024, underscoring the company’s deep vertical integration and extensive customer reach as key advantages for its global expansion. The broker raised its 2025 sales growth forecast for BYD by 2 ppts to 25%, equivalent to 5.3 million vehicles, and raised its GPM projections by 1.2 ppts and 1.3 ppts for 2025 and 2026. DBS also lifted its profit forecasts for 2025 and 2026 by 6% and 9%, respectively, elevating the target price for BYD’s H-shares from HKD404 to HKD492, while maintaining a Buy rating. AAStocks Financial News |
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