[ET Net News Agency, 14 October 2020] CMB International Securities (CMBIS) raised its
target price for BYD Electronics (00285) to HK$50.4 from HK$37.7 and maintained its "buy"
rating.
The research house believes BYDE will be the major beneficiary of industry consolidation
and Apple/Xiaomi's supplier diversification strategy. CMBIS lifted its FY2020-22 EPS
forecasts by 3%-7% for stronger 3Q results and faster share gain in Xiaomi/Apple supply
chain.
In addition, backed by Samsung/Xiaomi's promising outlook in 2021, CMBIS expects strong
demand for glass/ceramic casing given rapid 5G adoption. (KL)