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<Research>BofAS Trims BYD ELECTRONIC (00285.HK) TP to $31.5, Reiterates Neutral Rating
Recommend 4 Positive 3 Negative 4 |
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BYD ELECTRONIC (00285.HK)'s 2H25 results missed expectations, with net profit declining by 35% YoY to RMB1.8 billion, 34%/ 37% lower than the forecasts of BofA Securities/ the market, respectively, BofA Securities issued a research report saying. Revenue was largely in line with estimation, but gross profit margin was 1.6/ 1.8 ppts below the anticipations of the broker/ market. BofA Securities lowered its 2026/ 2027 earnings forecasts for BYD ELECTRONIC by 20-21% to reflect pressure on the gross profit margin of the consumer electronics business. The broker trimmed its target price from $38 to $31.5, equivalent to a projected 2026 PE ratio of 14x, with rating kept at Neutral. AASTOCKS Financial News Website: www.aastocks.com |
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