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<Research>M Stanley Adjusts TPs for NEV Stocks, Lifts BYD COMPANY's TP to $270
Recommend 10 Positive 14 Negative 9 |
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Although the sentiment in the new energy vehicle (NEV) industry may remain active in the short term as the central government has pledged to ramp up policy stimulus for economic growth this year, it is still not the right time to heavily invest in Chinese NVE stocks, Morgan Stanley opined in its research report. The industry's sustainability will still depend on policy implementation and execution. Morgan Stanley forecasted China's NEV sales to reach 14.9 million units this year, accounting for 53% of passenger car sales. In its estimate, the rising adoption of smart driving and configuration upgrades of new models will benefit XPENG-W (09868.HK), LI AUTO-W (02015.HK), GEELY AUTO (00175.HK), and Zeekr (ZK.US). Among Chinese automakers, the broker continued to favor Chang'an (000625.SZ), SAIC (600104.SH), and GAC Group (601238.SH). Detailed investment ratings and target prices from Morgan Stanley for Chinese NEV stocks are available in a separate table. The broker kept an Equalweight rating on BYD COMPANY (01211.HK) and raised its target price from $230 to $270. AAStocks Financial News |
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