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<Research>M Stanley: BYD COMPANY's Price Cuts Reflect Intensified Price Competition; Investors May Turn Even More Gloomy
Recommend 10 Positive 27 Negative 28 |
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BYD COMPANY (01211.HK) has recently announced discounts on its mass-market models, according to Morgan Stanley's research report. The total discounts (excluding national subsidies) of RMB12,000-40,000 will be borne by BYD COMPANY and its distributors. In Morgan Stanley's opinion, while some of these discounts were already implemented in April, this official announcement underscored the tough market conditions. It is estimated that the group still has over three months' worth of inventory. Intensifying price competition may make Chinese investors even more bearish, the report added. Morgan Stanley set its target price for BYD COMPANY at HKD438, with an Overweight rating. AAStocks Financial News |
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