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<Research>Citi Projects BYD COMPANY (01211.HK) 3Q NP to Reach Upper End of Mkt Consensus
Recommend 9 Positive 11 Negative 1 |
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Citi Research issued a research report expecting BYD COMPANY (01211.HK)'s 3Q24 net profit to be in the range of RMB10.5 billion to RMB11.8 billion, while profit per vehicle will improve QoQ. Net profit is expected to reach the upper end of the market consensus on the back of strong sales growth momentum, good cost control and changes in revenue mix in 3Q24. Citi Research kept rating at Buy for BYD COMPANY, with a target price of $488, believing that the Company will see a strong 3Q24 results, with more surprises in 4Q24 sales. The broker also believed that the Company is on track to reach its sales target of 500,000 units per month in November. However, the market is also facing 4 major concerns, including the possibility that EV brands such as Tesla (TSLA.US) may cut prices again during the peak season for car sales, etc.. AAStocks Financial News |
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