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Citi Recommends to Accumulate BYD COMPANY with 5 Upbeat Reasons

AAStocks · Jun 18, 2021 03:32

BYD COMPANY -2.04%

Citigroup laid out five reasons for its upbeat view on BYD COMPANY (01211.HK): 1) the company is one of the few domestic players in China which self develops and produces auto-grade IGBT, MCU, CIS, BMS, and SiC MOSFET; 2) BYD's spin-off listing of its semiconductor unit has been moving along well; 3) potential investors involve in the deal; 4) BYD was expected to post resilient NEV MoM sales growth in June-August; 5) local NEV brands may realize 70% NEV annual sales market share by 2025E.

Citigroup viewed that now is the time to accumulate BYD, granting a Buy rating and $287 target price.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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