JP Morgan's group call with BYD COMPANY (01211.HK) 0.000 (0.000%) Short selling $413.81M; Ratio 20.201% revealed three new positive surprises, namely estimate-beating domestic sales guidance, upside in overseas sales, and an impressive improvement in profit driven by new models, JP Morgan said in its report. The target price is HKD120 with a rating of Overweight.Management lately guided domestic sales for 2026 at 3.5-4 million units, representing YoY growth of 0-14%, contingent on the competitive landscape in China's market. This is above JP Morgan's forecast of 3.5 million units with flat YoY growth, as well as consensus for flat to slightly negative YoY growth. Related NewsJPM: BYD COMPANY (01211.HK), GEELY AUTO (00175.HK) and LEAPMOTOR (09863.HK) to Benefit from Rising Overseas Revenue ContributionFor overseas markets, although BYD COMPANY reiterated its sales target of 1.5 million units, implying YoY hike of 50%, management indicated there is potential for upward revision due to robust demand, particularly following the recent rise in oil prices. Management further emphasized that the company's eight self-owned vessels are ready, which will support this target.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-14 16:25.)
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