[ET Net News Agency, 8 January 2020] Jefferies Research assumed coverage on BYD Company
(01211) with a "hold" rating and a target price of HK$37.
The research house said BYD is the only Chinese automaker with self-owned power battery
technology. These intellectual properties make BYD less vulnerable to the competition.
Jefferies believes its efficient vehicles platform and super li-iron phosphate battery
are growth drivers for BYD to gain additional market share amid NEV (new energy vehicle)
subsidy withdrawal and harsher rivalries.
Without financial support from the government and a ride-hailing business to push NEV
sales, the company's PV (passenger vehicle) sales could be a drag to compress operating
margin. (KL)