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<Research>BofAS Mildly Cuts BYD COMPANY's Earnings Forecast & TP; 1Q Earnings Fall 55% YoY, Shy of Expectations
Recommend 10 Positive 14 Negative 8 |
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According to a report from BofA Securities, BYD COMPANY (01211.HK) recorded a 55% YoY plunge in 1Q26 net profit, slightly missing the broker's expectations. The underperformance was mainly caused by BYD ELECTRONIC (00285.HK). Looking ahead to full-year 2026, BofA Securities expects BYD COMPANY's net profit per vehicle to remain broadly flat, thanks to an expanding contribution from premium models and overseas sales, as well as cost control measures, despite rising raw material prices and competitive pressure in the Chinese market. BofA Securities trimmed its 2026/27 earnings forecasts by 1% for BYD COMPANY and lowered its target price from HKD120 to HKD119, but kept the Buy rating unchanged. Auto-translated by AI AASTOCKS Financial News |
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