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<Research>Citi Chops BYD ELECTRONIC (00285.HK) TP to $22.6, Downgrades Rating to Sell
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BYD ELECTRONIC (00285.HK)'s management guided that 2026 revenue to be flat YoY, with stable component business and iOS EMS business, but its Android EMS business will decrease YoY, Citi Research issued a research report saying. The auto business is expected to grow with BYD, and AI business revenue is projected to reach several billions. Therefore, the broker chopped its target price for BYD ELECTRONIC from $43.4 to $22.6, and downgraded BYD ELECTRONIC from Buy to Sell, primarily due to weak consumer electronics business and lower-than-expected auto business growth. AASTOCKS Financial News Website: www.aastocks.com |
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