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<Research>M Stanley: BYD COMPANY Results in Line w/ Solid BYD ELECTRONIC
Recommend 13 Positive 21 Negative 8 |
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BYD COMPANY (01211.HK)'s quarterly results were in line with the market's latest forecasts, with operating expenses offset by improved gross profit margin, Morgan Stanley issued a research report saying. However, earnings per vehicle unit were suppressed by weaker sales, excluding contributions from BYD ELECTRONIC (00285.HK). Aside from the Honor Edition, upgrades to the DMi/ e-platform also play a key role in boosting sales in 2Q24. The market now expects BYD COMPANY's sales volume to rise by 50-70% QoQ in 2Q24, Morgan Stanley said. The launch of new models of its mass market Honor edition models and upgrades of DMi 5.0 and e-platform 4.0 boost sales volume in 2Q24. Morgan Stanley currently rated BYD COMPANY at Equalweight, with a target price of $225. AAStocks Financial News |
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