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<Research>HSBC Research Lifts BYD COMPANY (01211.HK) TP to $355, Reflecting Higher Sales Outlook
Recommend 6 Positive 9 Negative 6 |
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Due to seasonality and pre-sale in 4Q24, HSBC Global Research issued a research report expecting that BYD COMPANY (01211.HK)'s 1Q25 sales volume may record a QoQ decline, and the pressure on the selling price of its products will also increase. The broker also estimated that BYD COMPANY, with its strong brand advantage and pricing ability, may adopt a flexible pricing strategy to mitigate the related impact. Considering that BYD COMPANY will continue to adjust its product mix in the coming year, strengthen its expansion into overseas markets and develop autonomous driving technology, HSBC Global Research accordingly raised its 2024 earnings forecast by 7%, and its 2025/ 2026 earnings forecasts by 7-9% to reflect the higher sales volume outlook, which is estimated to reach 5.3 million units this year, compared to 4.9 million units in the previous prediction. HSBC Global Research also lifted its target price on BYD COMPANY from $353 to $355, with rating kept at Buy. AAStocks Financial News |
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