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<Research>JPM Keeps Long-held Overweight on BYD COMPANY (01211.HK), Reiterates It as Top Pick
Recommend 3 Positive 12 Negative 6 |
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JP Morgan’s research report highlighted that BYD COMPANY (01211.HK) delivered 1Q25 results beat. Based on discussions with management at the Shanghai International Automobile Exhibition, the broker found that the company's models equipped with autonomous driving features accounted for 60-70% of total sales. The broker forecast the company's order volumes to remain stable in the coming months and its sales share in China’s premium car market (priced above RMB200,000) to rise from 14% in 2024 to around 20%, boosting the company's overall profitability. JP Morgan projected BYD’s 2025 sales to grow approximately 30% YoY to about 5.5 million units, with global deliveries expected to reach 6.5 million units in 2026. The broker reaffirmed its long-held Overweight rating, named BYD as a top pick, and set a target price of HKD600. AAStocks Financial News |
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