<Research>CICC Raises BYD COMPANY (01211.HK) TP to $354 as Earnings Still Have Large Upside

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<Research>CICC Raises BYD COMPANY (01211.HK) TP to $354 as Earnings Still Have Large Upside

CICC released a research report maintaining its 2024/ 2025 earnings forecasts for BYD COMPANY (01211.HK), as the Company's 3Q24 results were in line with expectations, and roll...

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<Research>CICC Raises BYD COMPANY (01211.HK) TP to $354 as Earnings Still Have Large Upside

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CICC released a research report maintaining its 2024/ 2025 earnings forecasts for BYD COMPANY (01211.HK) -2.600 (-0.919%) Short selling $404.45M; Ratio 18.823% , as the Company's 3Q24 results were in line with expectations, and rolling over its valuation model to 2025.

In view of the obvious trend of sales volume and earnings growth, the broker raised its target price by 18% to $354, corresponding to 2025 projected PE ratio of about 18x, with rating kept at Outperform.

Related NewsCMS: BYD COMPANY's New Platform Boosts GPM; Mid-to-long Term Overseas Outlook Positive
Looking ahead, CICC expected BYD COMPANY's strong technology cycle to continue, and remained optimistic about its export business, with large upside remained for earnings.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-11-07 16:25.)

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