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<Research>G Sachs Elevates BYD COMPANY (01211.HK) TP to $310 on Raised Sales Target, Improving Margins
Recommend 6 Positive 8 Negative 8 |
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BYD COMPANY (01211.HK)'s sales continued to see growth, driven by an increase in new vehicle deliveries from May 2024, Goldman Sachs released a research report saying. Goldman Sachs forecasted BYD COMPANY to launch at least 6 new models in the rest of the year, and support further growth in monthly deliveries. Therefore, Goldman Sachs raised its full-year sales forecast for BYD COMPANY from 3.8 million to 4 million. BYD COMPANY's expanding scale, shift in auto sales mix to the new “DM5.0” technology and premium car brand will continue to bring better economic benefit and unit profit, Goldman Sachs added. In addition, Goldman Sachs lifted its FY2024-FY2026 net profit forecasts for BYD COMPANY by 1-6%, meanwhile elevating its target price for BYD COMPANY's H-shares by 5% to $310, with rating kept at Buy. AAStocks Financial News |
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