[I-bank focus]BofAML lifts BYD Company (01211) to HK$56.67

    BofA Merrill Lynch lifted its target price for BYD Company (01211) to HK$56.67 from HK$52.68, and maintained its "overweight" rating.
  The research house said BYD expects 9-month 2014 net profit to be RMB361m-411m. With the above run-rate, BofAML cut its 2014 and 2015 net profit forecasts by 21% and 16%. 
  BYD is going to launch S7 SUV, G5 sedan, plug-in hybrid SUV Tang and pure electric sedan Denza in 2H. The research house expects the above models to account for 8% and 33% of BYD's auto revenue in FY2014 and FY2015, respectively.