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<Research>UBS Chops BYD COMPANY (01211.HK) TP to $160, Keeps Rating at Buy
Recommend 23 Positive 41 Negative 24 |
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BYD COMPANY (01211.HK)'s 2Q25 net profit was RMB6.4 billion, down 31% QoQ and 30% YoY, approx. 40% below the expectations of the market/ UBS, UBS released a research report saying. Despite the Company achieved a record high 23% of overseas vehicle deliveries during the period, the average net profit per vehicle was only RMB4,900, compared to RMB8,000 to RMB10,000 over the past 3 years. Given the relatively slow sales in July and August, UBS believed that it is difficult to expect a rapid improvement in 3Q25. The broker lowered its 2025/ 2026 earnings forecasts by 30%/ 21% each to reflect continued pressure on gross margins. UBS chopped its target price from $180 to $160, and kept rating at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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