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<Research>CLSA Sets BYD COMPANY's TP at HKD140 w/ Rating High-Conviction Outperform; 3Q Results in Line
Recommend 10 Positive 14 Negative 8 |
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According to a report from CLSA, BYD COMPANY (01211.HK)'s results for the last quarter met expectations, with a reported 3Q25 GAAP profit per vehicle of RMB6,200, up from RMB4,900 in 2Q25, aligning with market expectations. This improvement was attributed to strong export volumes of 258,200 vehicles (with a three-month lag). CLSA set a target price of HKD140 for BYD COMPANY based on a 19x estimated earnings per share for 2026, a valuation higher than the historical average. The broker considered this premium justified due to BYD COMPANY's clear product pipeline growth visibility, supply chain advantages, and significant progress in the field of intelligent driving. These factors will drive its transformation into a comprehensive "automobile + intelligence" giant. Its rating was High-Conviction Outperform. AAStocks Financial News |
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