Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research Report>Citi Cuts BYD ELECTRONIC TP to $47, Expects 2024 Driven by High-end Smartphone Casing, Auto Biz
Recommend 7 Positive 9 Negative 6 |
||||
|
||||
|
BYD ELECTRONIC (00285.HK) reported a 19% YoY growth in consumer electronics business revenue in 2023, accounted for about 75% of its total revenue, Citi Research issued a research report saying. During the year, the Company completed the acquisition of Juno Newco, a mobile electronics manufacturing business, from Jabil Inc. and the management expects that it will help to strengthen the ability of new product introduction, and expand into more core products in the future. Citi Research expected investors to mainly focus on the business outlook and strategic plan after the completion of the acquisition, the opportunities under the upgrading of specification of AI smartphones, the outlook for the auto electronics business and gross profit margin, and the potential of the AI server business. Citi Research also predicted that this year's growth will be mainly driven by high-end smartphone casing and the auto business. However, in light of the expected decline in sales, Citi Research lowered its EPS forecasts for 2024/ 2025 by 2%/ 4%, with rating kept at Buy, and cut its target price from $48 to $47. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
