[ET Net News Agency, 19 January 2018] Nomura cut its target price for BYD Company Ltd
(01211) to HK$89.5 from HK$94, and maintained its "buy" rating.
The research house said investment sentiment on EV-related names is unlikely to turn,
while the overhang from potential subsidy policy changes for FY2018 remains. That said,
with a higher proportion of sales generated from longer-range EVs, BYD should see benefits
from the potential policy change when weaker players are weeded out in the long term.
So, despite any potential margin pressure on NEV/ EV batteries, Nomura remains positive
on BYD for now and expect earnings to recover driven by the monorail business and new
model cycle, which includes Tang (2Q 2018), Song Max (PHEV, 3Q 2018), Qin (both PHEV and
EV), and Yuan (EV) in 4Q 2018, respectively. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01211 BYD COMPANY
Nominal 
212.800 +9.000 (+4.416%) Others
19/01/2018 14:25
[I-bank focus]Nomura cuts BYD Company (01211) to HK$89.5
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