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<Research>M Stanley Rates BYD COMPANY as Overweight, Expects Continued Market Focus on Overseas Biz Progress
Recommend 10 Positive 16 Negative 9 |
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BYD COMPANY (01211.HK) experienced a 33% YoY decline in its 3Q25 earnings, falling short of market expectations, though a QoQ growth of 23% already marked a rebound from 2Q25's low, according to a Morgan Stanley research report. Excluding the earnings contribution from BYD ELECTRONIC (00285.HK), the unit profit of BYD COMPANY's automotive business reached around RMB6,100, an improvement from 2Q25's RMB4,800, but still below market expectations. Morgan Stanley stressed that BYD COMPANY's 3Q25 results didn't surprise investors, but they met the previously lowered market expectations. The broker believed the market would continue to focus on BYD COMPANY's overseas business progress, next year's new product cycle, and whether it will introduce sales policies to address the impact of the new energy vehicle purchase tax hike in 2026. BYD COMPANY was rated as Overweight, with a target price of HKD130. AAStocks Financial News |
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