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<Research>G Sachs Lifts BYD COMPANY's TP to HKD141; Overseas Mkts Expected to Power Future Growth
Recommend 28 Positive 47 Negative 20 |
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Goldman Sachs has issued a research report forecasting overseas markets to become the growth engine for BYD COMPANY (01211.HK) over the next decade. The broker has raised its forecast for the carmaker's 2026-35 sales in overseas markets outside the US by 5-14% to 1.5-3.5 million cars. Currently, BYD COMPANY's electric vehicle (EV) penetration rate in key overseas markets is still about four years behind China. It is expected that by 2035, the launch of more new models will push its overseas EV penetration rate to China's level in 2028, creating a market size of 28 million cars. Goldman Sachs raised its target price for BYD COMPANY by 8% to HKD141, with a Buy rating remaining in place. AAStocks Financial News |
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