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<Research>BOCOMI Adjusts BYD COMPANY's TP to HKD167.75; Rating Kept Buy
Recommend 24 Positive 45 Negative 18 |
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BYD COMPANY (01211.HK) sold around 382,500 new cars in May, up 5.3% YoY or 1.2% MoM, according to BOCOMI's research report. Among the new cars sold, new energy passenger vehicles (NEV-PVs) accounted for about 376,900 units, marking a 14.1% YoY increase. Even though BYD COMPANY's market share in China declined mildly MoM, it still maintained a significant lead in the industry and even widened the gap with its competitors. With the improvement of the high-end brand matrix, release of overseas production capacity, and application of new technologies, BYD COMPANY is expected to further consolidate its position as a global leader in NEVs. BOCOMI kept the Buy rating unchanged but adjusted its target price to HKD167.75 following the "one-to-three" stock split. AAStocks Financial News |
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