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<Research>BOCI Cuts BYD ELECTRONIC (00285.HK) TP to $38; 1Q Results In Line w/ Solid Outlook
BOCI issued a report on BYD ELECTRONIC (00285.HK), of which 1Q24 results were in line, with revenue up 38% YoY and net profit up 33%, including amortization expenses related to Jab...
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<Research>BOCI Cuts BYD ELECTRONIC (00285.HK) TP to $38; 1Q Results In Line w/ Solid Outlook
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BOCI issued a report on BYD ELECTRONIC (00285.HK)  -0.050 (-0.148%)    Short selling $13.94M; Ratio 4.326%   , of which 1Q24 results were in line, with revenue up 38% YoY and net profit up 33%, including amortization expenses related to Jabil deal.

The management maintained a positive outlook, especially on AI server business, Jabil operational optimization, high-end Android products and automotive business. The company expected revenue and GPM to improve in the current quarter.

The broker upheld its revenue forecast for BYD ELECTRONIC and envisioned a solid outlook, but trimmed its EPS forecast for 2024-26 by 16%/ 9%/ 7%, maintaining a Buy rating and lowering its TP to $38 from $39.8.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-17 16:25.)

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