{I-bank focus}CICC raises BYD Company (01211) to HK$200

    CICC Research raised its target price for BYD Company (01211) by 45% to HK$200 and maintained its "outperform" rating.
  The research house said BYD Company announced that its revenue and attributable net profit rose 40.7% and 1,363% to Rmb44.52bn and Rmb1.75bn in 3Q. CICC attributed the high earnings growth to strong sales of high-end alternative fuel vehicle (AFV) models and earnings contribution from BYD Electronic (00285).
  CICC raised its 2020 and 2021 attributable net profit forecasts by 11% and 3% to Rmb4.5bn and Rmb5.4bn. Looking into 2025, it thinks BYD will remain a leading AFV name.