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<Research>BofAS Chops BYD COMPANY (01211.HK) TP to $137 as 3Q NP Misses
Recommend 10 Positive 11 Negative 9 |
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BYD COMPANY (01211.HK)(002594.SZ)'s 3Q25 revenue amounted to RMB195 billion, down 3% YoY and QoQ, according to BofA Securities' research report. Gross profit margin was 17.6%, down 2.5 ppts YoY but up 1.3 ppts QoQ. The QoQ improvement could be attributed to higher contributions from high-end brand sales. Net profit amounted to RMB7.8 billion, down 33% YoY and up 23% QoQ, approx. 8% below market consensus. BofA Securities lowered its 2025-2027 revenue forecasts by 10%/ 9%/ 9%, and reduced its earnings forecasts for the same period by 11%/ 0.3%/ 2%. The broker also chopped its target prices for BYD COMPANY's H-/ A-shares from $141/ RMB128 to $137/ RMB125, with ratings kept at Buy as the Company is expected to take a series of measures to stimulate demand. AASTOCKS Financial News Website: www.aastocks.com |
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