[ET Net News Agency, 8 July 2020] Daiwa Research cut its target price for BYD Company
(01211) to HK$69 from HK$70 and downgraded its rating to "hold" from "buy".
The research house believes the share-price rally of 19% since 2 July fully reflects the
company's strong growth outlook. Moreover, if Tesla announces its new compact car (320km
driving range at US$20-25k) during its Battery Day in September, Daiwa thinks it will
negatively impact BYD.
Daiwa expects NEV (new energy vehicle) sales growth of 40% in 2H on a low base in 2H
2019, but a 2% drop in ICE (internal combustion engine) sales on a high base.
Daiwa added that Tesla targets to launch a cheaper version of its electric battery
sedan along with the potential release of its other new battery technology such as the
hybrid supercapacitor battery. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01211 BYD COMPANY
Nominal 
200.800 -4.600 (-2.240%) Others
08/07/2020 10:07
{I-bank focus}Daiwa downgrades BYD Company (01211) to HK$69
| Remark: | Real time quote last updated: 19/04/2024 14:13 |
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