[ET Net News Agency, 2 January 2018] Credit Suisse lifted its target price for BYD
Electronic (BYDE)(00285) to HK$23.1 from HK$20, and upgraded its rating to "outperform"
from "neutral".
The research house sees BYDE as a potential long-term winner in the component supply
chain, based on its leading scale, improving execution, comprehensive casing capabilities
and assembly synergies. It also believes its recent share price declines provide a good
entry point.
Credit Suisse noted four reasons for its upgrade: (1) A relatively low exposure to
recent Chinese smartphone headwinds; (2) long-term share gains in the Android casing
market; (3) a new addressable market in iOS; and (4) and its attractive valuation post the
correction.
It feels the current level is very risk/reward attractive for the long run, while Korean
client's new flagship model launch, the MacBook order win, and better-than-feared 4Q 2017
or 1Q 2018 earnings could be catalysts in next few months. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00285 BYD ELECTRONIC
Nominal 
25.050 +0.750 (+3.086%) Others
02/01/2018 14:36
[I-bank focus]CS upgrades BYD Electronic (00285) to HK$23.1
| Remark: | Real time quote last updated: 26/04/2024 16:18 |
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